IRON ORE DAILY: Fines trading in physical market active due to low port inventories

Iron ore fines prices held steady in the physical market on active trading on Monday August 17, largely due to low mid-grade fines port inventories in China and despite a decrease in Dalian Commodity Exchange futures values, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $122.44 per tonne, down $0.50 per tonne
62% Fe low-alumina fines, cfr Qingdao: $121.50 per tonne, up $0.23 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $107.97 per tonne, up $0.16 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $128.50 per tonne, down $0.10 per tonne
62% Fe fines, fot Qingdao: 932 yuan per wet metric tonne (implied 62% Fe China Port Price: $124.37 per dry tonne), up by 2 yuan per wmt
Key drivers

The iron ore futures market closed at a loss compared to last Friday on the Dalian Commodity Exchange (DCE), where the most-traded January futures contract fell 0.54%.
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