IRON ORE DAILY: IOCJ performs at ports despite futures market correction

Iron ore futures prices declined on Friday September 4 amid weak trading sentiment following the downturn in the US stock market. But with 57% Fe Indian fines traded in US dollars on the platform again in 2020, low-grade and high-grade fines performed well at ports on strong demand, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $128.80 per tonne, down $1.12 per tonne
62% Fe low-alumina fines, cfr Qingdao: $129.22 per tonne, down $0.95 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $114.23 per tonne, down $1 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $141.10 per tonne, down $0.80 per tonne
62% Fe fines, fot Qingdao: 959 yuan per wet metric tonne (implied 62% Fe China Port Price: $130.10 per dry tonne), up by 2 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange experienced a sharp drop during the night trading session on Thursday, following the downturn in the United States'...

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