Iron ore prices fell on Monday June 7, following the downtrend in steel prices amid weak steel demand during the rainy season in China.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $202.42 per tonne, down $4.93 per tonne
62% Fe low-alumina fines, cfr Qingdao: $204.18 per tonne, down $5.02 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $176.99 per tonne, down $4.41 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $233.10 per tonne, down $4.90 per tonne
62% Fe fines, fot Qingdao: 1,422 yuan per wet metric tonne (implied
62% Fe China Port Price: $208.33 per dry tonne), down by 7 yuan per wmt
Key drivers
China imported 89.79 million tonnes of iron ore in May, up by 3.17% from 87.03 million tonnes a year earlier, but down by 8.91% from 98.57 million tonnes in April, according to Chinese customs data released on Monday.
The most-traded September iron ore futures contract on the Dalian Commodity Exchange...