Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne
62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $116.96 per tonne, up by $3.05 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $165.60 per tonne, down by $0.50 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1250 per dry metric tonne unit (dmtu), down by $0.0050 per dmtu
62% Fe fines, fot Qingdao: 1,059 yuan per wet metric tonne (
implied 62% Fe China Port Price: $152.20 per dry tonne), up by 10 yuan per wmt.
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) went down after opening, and fluctuated around the intra-day low level in the afternoon, ending down...