Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne
62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $161.36 per tonne, down $1.42 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $197.30 per tonne, down $2.70 per tonne
62% Fe fines, fot Qingdao: 1195 yuan per wet metric tonne (
implied 62% Fe China Port Price: $172.42 per dry tonne), down by 5 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) fell during the night trading session on Monday and traded largely sideways at...