Iron ore prices declined on increasing steel inventories and a high chance of stricter restrictions on steel mills ahead of centennial celebrations, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $213.46 per tonne, down $2.55 per tonne
62% Fe low-alumina fines, cfr Qingdao: $217.08 per tonne, down $2.26 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $183.86 per tonne, down $0.59 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $249.30 per tonne, down $2.50 per tonne
62% Fe fines, fot Qingdao: 1,496 yuan ($230.91) per wet metric tonne (implied
62% Fe China Port Price: $216.54 per dry tonne), down by 6 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) dropped in the afternoon session and fluctuated during yesterday evening's session before ending down by 0.7% from the closing price of 1,173 yuan per tonne on June...