Seaborne iron ore prices moved down on Wednesday July 22 amid market expectations that strong supply from Australia could offset supply uncertainties from Brazil.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $110.95 per tonne, down $0.48 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $112.84 per tonne, down $0.16 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $99.51 per tonne, down $0.85 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $121.40 per tonne, down $0.40 per tonne.
62% Fe fines, fot Qingdao: 873 yuan per wet metric tonne (implied
62% Fe China Port Price: $115.59 per dry tonne), up by 5 yuan per wmt.
Key drivers
The iron ore futures market was flat at the close compared with the previous day, after rising as high as 861.50 yuan per tonne during the morning trading session on the Dalian Commodity Exchange, where the most-traded September futures contract inched up by 0.06%.
Similar volatility was seen in iron ore swaps...