Physical iron ore prices tumbled on Wednesday July 24 amid low trading activity and news of more supply coming from Vale's Brazilian operations.
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $114.97 per tonne, down $2.85 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $114.89 per tonne, down $2.85 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $115.81 per tonne, down $3.05 per tonne. Fastmarkets' index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $104.77 per tonne, down $2.61 per tonne. Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $123.30 per tonne, down $2.90 per tonne. Fastmarkets' index for iron ore 62% Fe fines, fot Qingdao: 866 yuan per wet metric tonne (implied 62% Fe China Port Price $116.42 per dry tonne), down 27 yuan per wet metric tonne. Key drivers Brazilian miner Vale said late on Tuesday the supply of its Brazilian Blend fines (BRBF) will increase thanks to the partial resumption of dry...