Iron ore prices went down on Friday March 12 due to the weak demand amid strong supervision on steel production operations in Tangshan, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $165.44 per tonne,down $5.26 per tonne
62% Fe low-alumina fines, cfr Qingdao: $165.53 per tonne,down $5.26 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $152.27 per tonne,down $3.78 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $190.60 per tonne,down $5 per tonne
62% Fe fines, fot Qingdao: 1,145 yuan per wet metric tonne (implied 62% Fe China Port Price: $164.32 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 steadily through the day, ending down by 3.2% from Thursday's...