Iron ore prices in seaborne markets and ports were relatively stable on Tuesday September 8, while stricter sintering restrictions and market expectations of port congestion relief weakened bullish sentiment, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $129.12 per tonne, up $0.01 per tonne
62% Fe low-alumina fines, cfr Qingdao: $129.16 per tonne, down $0.28 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $115.19 per tonne, up $0.81 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $142.10 per tonne, down $1.20 per tonne
62% Fe fines, fot Qingdao: 958 yuan per wet metric tonne (
implied 62% Fe China Port Price: $130.23 per dry tonne), down by 3 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) had a flat morning trading session before steadily dropping in the afternoon, ending the day with a decrease of 0.9% at close.
Following a similar trend in the DCE, the most-liquid October iron-ore swap contract on the Singapore Exchange...