Iron ore prices mostly edged downward on Friday July 16 under the influence of increasing inventory at China's ports despite reduced shipments.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $221.43 per tonne, down by $0.66 per tonne
62% Fe low-alumina fines, cfr Qingdao: $223.39 per tonne, down by $0.36 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $181.57 per tonne, down by $0.49 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $256.80 per tonne, unchanged
62% Fe fines, fot Qingdao: 1,503 yuan per wet metric tonne (
implied 62% Fe China Port Price: $218.12 per dry tonne), up by 10 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) kept increasing in Thursday's evening session and Friday's morning session, but retreated then rebounded in the afternoon, before ending up by 0.6% from Thursday's closing price of 1,234 yuan ($191) per tonne.
The most-traded...