Iron ore prices fell on Tuesday March 30, sources told Fastmarkets, due to the downtrend in rebar prices and reduced trading activity at Chinese ports.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $166.58 per tonne,down $1.30 per tonne
62% Fe low-alumina fines, cfr Qingdao: $167.22 per tonne,down $1.66 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $147.50 per tonne,down $1.96 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $195.00 per tonne,down $3 per tonne
62% Fe fines, fot Qingdao: 1,131 yuan per wet metric tonne (
implied 62% Fe China Port Price: $160.75 per dry tonne), down by 8 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) fell steadily after opening on Tuesday, then rebounded slightly in the afternoon session, before ending the day down by 2.2% from Monday's closing price of 1,123 yuan ($171)...