Seaborne iron ore prices continued to fall on Wednesday August 7 amid very limited buying interest among steel mills.
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $93.31 per tonne, down $4.24 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $91.81 per tonne, down $4.24 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $93.95 per tonne, down $4.37 per tonne.Fastmarkets' index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $83 per tonne, down $3.84 per tonne.Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $100.40 per tonne, down $6.30 per tonne.Fastmarkets' index for iron ore 62% Fe fines, fot Qingdao: 782 yuan per wet metric tonne (implied 62% Fe China Port Price $102.50 per dry tonne), down 21 yuan per wet metric tonne. Key driversSteelmakers in China are still unwilling to submit bids for seaborne iron ore, according to market sources.A mill source said that a few mills were relying on contract cargoes...