Iron ore prices fell on Friday June 4 amid uncertainty about local government policies in China. As a result, most market participants held back from trading activity to wait for further developments.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $207.35 per tonne, down by $3.64 per tonne
62% Fe low-alumina fines, cfr Qingdao: $209.20 per tonne, down by $3.61 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $181.40 per tonne, down by $3.18 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $238.00 per tonne, down by $3.20 per tonne
62% Fe fines, fot Qingdao: 1,429 yuan per wet metric tonne (
implied 62% Fe China Port Price: $209.44 per dry tonne), down by 31 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) trended downward over the evening session, having fluctuated over the day, to finish down by 2.1% from Thursday's close of 1,194 yuan ($187) per tonne.
Iron ore forward-month swaps contracts on the Singapore Exchange (SGX)...