Iron ore prices went fell on Thursday May 27, due to limited demand in the seaborne market and at Chinese ports.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $189.73 per tonne, down $3.14 per tonne
62% Fe low-alumina fines, cfr Qingdao: $190.90 per tonne, down $3.59 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $162.38 per tonne, down $2.64 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $223.60 per tonne, down $5.20 per tonne
62% Fe fines, fot Qingdao: 1,314 yuan per wet metric tonne (
implied 62% Fe China Port Price: $192.23 per dry tonne), down by 39 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) kept the uptrend through the day before ending up by 5.2% from yesterday's closing price of 994.50 yuan ($156) per tonne.
And by 6.24pm Singapore time,...