Iron ore fines prices were lower across the board on Friday August 21 after news Tokyo Steel will resume exports to China delivered a blow to market expectations for domestic steel production and demand for iron ore.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $127.38 per tonne, down $1.94 per tonne
62% Fe low-alumina fines, cfr Qingdao: $126.71 per tonne, down $1.88 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $113.26 per tonne, down $1.69 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $135.50 per tonne, down $1.20 per tonne
62% Fe fines, fot Qingdao: 956 yuan per wet metric tonne (implied
62% Fe China Port Price: $128.29 per dry tonne), down by 4 yuan per wmt
Key drivers
The iron ore futures market on the Dalian Commodity Exchange continued its downtrend that started on Wednesday, with the most-traded January futures contract dropping by 1.3% from a one day earlier.
Meanwhile, iron ore swaps in the Singapore Exchange (SGX) dropped in the afternoon trading session as well, decreasing by over...