Iron ore prices fell on Thursday January 28, with weak mill margins and expected crude steel production cuts weighing on market sentiment, sources told Fastmarkets
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $157.42 per tonne, down $9.17 per tonne
62% Fe low-alumina fines, cfr Qingdao: $158 per tonne, down $8.65 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $143.81 per tonne, down $8.41 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $182.10 per tonne, down $8.10 per tonne
62% Fe fines, fot Qingdao: 1135 yuan per wet metric tonne (
implied 62% Fe China Port Price: $163.5 per dry tonne), down by 21 yuan per wmt
Key drivers
The most-trade iron ore futures May contract on Dalian Commodity Exchange (DCE) decreased steadily through the day and closed below 1,000 yuan per tonne level for the first time...