Iron ore prices continue to ease amid weakened demand from mills

Seaborne iron ore prices continued to trend downward on Friday January 14 amid sustained demand weakness from mills, sources told Fastmarkets.

Key drivers
Overall market sentiment was weighed down because most mills have finished restocking iron ore at China’s ports ahead of the upcoming Lunar New Year, according to a Shanghai-based trader source.
Additionally, some small and mid-sized trading houses were heard to be in no hurry to take in seaborne mid-high grade iron ore cargoes, the same trader said.
Speculative buying interest for Yandi fines and Mining Area C fines increased due to being more cost-effective compared with other brands. But this also narrowed their reselling margins at China’s ports, according to a Beijing-based trader source.

The reselling margin for Yandi fines at China’s ports has dipped to around 15 yuan per tonne as of Friday, compared with 20 yuan per tonne on...

Published

Alex Theo

January 14, 2022

11:57 GMT

Singapore