Iron ore prices fell across the board on Monday November 23 due to expectations of weak demand for steel and iron ore during the coming few days of cold weather.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $127.24 per tonne, down $1.59 per tonne
62% Fe low-alumina fines, cfr Qingdao: $127.49 per tonne, down $1.80 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $117.37 per tonne, down $1.32 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $139.10 per tonne, down $1.40 per tonne
62% Fe fines, fot Qingdao: 904 yuan per wet metric tonne (implied
62% Fe China Port Price: $127.78 per dry tonne), down by 5 yuan per wmt
Key drivers
After the uptrend in iron ore futures markets last week, futures contract prices started to fall on Monday. The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) retreated from last week's...