China's iron ore futures fell further on Friday November 2, dragging down prices and the amount of physical trading activity.
MB 62% Fe Iron Ore Index: $73.97 per tonne cfr Qingdao, down by $1.28 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73 per tonne cfr Qingdao, down by $1.28 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.96 per tonne cfr Qingdao, down by $1.20 per tonne.MB 58% Fe Premium Index: $66.43 per tonne cfr Qingdao, down by $0.59 per tonne.MB 65% Fe Iron Ore Index: $96.50 per tonne cfr Qingdao, down by $0.40 per tonne.MB 62% Fe China Port Price Index: 592 yuan per wet metric tonne (implied 62% Fe China Port Price $75.69 per dry tonne), down by 4 yuan per wmt.Key driversChina's ferrous futures largely moved into negative figures on Friday, with the benchmark iron ore contract slumping to finish the day down by 3.5% from Thursday's settlement.Spot iron ore prices at Chinese ports also fell amid reduced buying activity.Some market participants attributed the...