Iron ore prices fell significantly on Tuesday August 10 due to continuing weak demand, with production cuts and pollution-control measures in China's Tangshan city, in preparation for February's 2022 Winter Olympics, further depressing market sentiment.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $162.44 per tonne, down $10.07 per tonne
62% Fe low-alumina fines, cfr Qingdao: $162.75 per tonne, down $10.78 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $130.94 per tonne, down $8.29 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $192.90 per tonne, down $10.40 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.350 per dry metric tonne unit (dmtu), down $0.025 per dmtu
62% Fe fines, fot Qingdao: 1,192 yuan per wet metric tonne (
implied 62% Fe China Port Price: $171.70 per dry tonne), down by 56 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) decreased in yesterday's night session, increased in today's morning session and fluctuated in the afternoon session, before ending up by 0.1%...