Iron ore prices in the futures and seaborne markets both went down on Tuesday November 3, sources said, adding that weak sentiment amid increasing shipments had depressed the prices.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $117.09 per tonne,down $0.97 per tonne
62% Fe low-alumina fines, cfr Qingdao: $117.63 per tonne,down $1.02 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $107.77 per tonne,down $1.97 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $129.80 per tonne,down $1 per tonne
62% Fe fines, fot Qingdao: 878 yuan per wet metric tonne (
implied 62% Fe China Port Price: $121.5 per dry tonne), down by 10 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) kept a steady downtrend through the day, ending up with a decrease of 1.7% from Monday's close price.
Iron ore swaps contracts...