Iron ore prices across the board declined further on Friday July 9, with market chatter about crude steel production cuts in China depressing sentiment amid thin trading.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $214.77 per tonne, down by $3.27 per tonne
62% Fe low-alumina fines, cfr Qingdao: $218.00 per tonne, down by $4.00 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $180.07 per tonne, down by $2.87 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $248.40 per tonne, down by $3.00 per tonne
62% Fe fines, fot Qingdao: 1,488 yuan per wet metric tonne (
implied 62% Fe China Port Price: $215.19 per dry tonne), down by 23 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5850 per dry metric tonne unit (dmtu), down by $0.0200 per dmtu.
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated in the morning, then fell in the afternoon before ending the day down by 2.1%...