IRON ORE DAILY: Prices dip despite supply concerns raised by storms in Australia

February 02, 2021 / www.metalbulletin.com / Article Link

Iron ore prices fell on Monday February 1, sources told Fastmarkets, due to weak demand and limited trading liquidity, despite the potential impact of severe weather on supplies from Australia.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $157.07 per tonne, down $1.47 per tonne
62% Fe low-alumina fines, cfr Qingdao: $157.77 per tonne, down $1.28 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $143.95 per tonne, down $1 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $180.50 per tonne, down $2.10 per tonne
62% Fe fines, fot Qingdao: 1114 yuan per wet metric tonne (implied 62% Fe China Port Price: $161.49 per dry tonne), down by 6 yuan per wmt
Key drivers

After a sharp increase in the morning session, the most-trade iron ore futures May contract on Dalian Commodity Exchange (DCE) decreased steadily...

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