Seaborne iron ore prices dipped on Friday March 27 amid mounting concerns that steel production cuts outside China and the subsequent drop in demand for raw materials will lead to the diversion of cargoes to Chinese ports.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $86.36 per tonne, down $0.41 per tonne
62% Fe low-alumina fines, cfr Qingdao: $87.02 per tonne, down $0.62 per tone
58% Fe fines high-grade premium, cfr Qingdao: $74.81 per tonne, down $0.81 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $101.40 per tonne, down $0.80 per tonne
62% Fe fines, fot Qingdao: 670 yuan per wet metric tonne (
62% Fe China Port Price: $86.61 per dry tonne), up 2 yuan per wmt.
Key drivers
Market participants said that a steel mill in Japan had sold on a Europe-origin pellet cargo to China this week, while...