Iron ore fines prices declined on Thursday August 27, with market sources saying that the further restrictions on sintering in the Tangshan area of northern China have depressed trading sentiment.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $122.22 per tonne, down $1.98 per tonne
62% Fe low-alumina fines, cfr Qingdao: $121.69 per tonne, down $1.96 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $108.92 per tonne, down $2.05 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $133.40 per tonne, down $2.40 per tonne
62% Fe fines, fot Qingdao: 949 yuan per wet metric tonne (
implied 62% Fe China Port Price: $127.79 per dry tonne), up by 5 yuan per wmt
Key drivers
The iron ore futures market returned to a loss from yesterday's increase. The most-traded January futures contract on the Dalian Commodity Exchange (DCE) decreased by 1.7% compared to one day earlier, almost eliminating the increment made on Wednesday.
Meanwhile, iron ore forward-month swap contracts on the Singapore Exchange followed the same downtrend as on...