Iron ore prices fell on Friday January 22 due to a negative near-term outlook following the introduction of stronger measures to control the resurgence of Covid-19 cases in China.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $169.97 per tonne, down $1.54 per tonne
62% Fe low-alumina fines, cfr Qingdao: $170.90 per tonne, down $1.36 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $156.73 per tonne, down $1.51 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $193.30 per tonne, down $1.40 per tonne
62% Fe fines, fot Qingdao: 1,165 yuan per wet metric tonne (implied
62% Fe China Port Price: $168.28 per dry tonne), down by 3 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3800 per dry metric tonne unit (dmtu), up $0.0100 per dmtu.
Key drivers
The most-traded iron ore futures May contract on the Dalian Commodity Exchange (DCE) dropped sharply in the afternoon and maintained at the intra-day low level, ending down by 1.4% from Thursday's close price of...