Physical iron ore prices weakened on Tuesday September 17 amid losses in the futures markets.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $97.17 per tonne, down by $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $97.56 per tonne, down by $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $96.13 per tonne, down by $0.81 per tonne.58% Fe fines high-premium, cfr Qingdao: $84.56 per tonne, down by $1.92 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $103.90 per tonne, down by $1.40 per tonne.62% Fe fines, fot Qingdao: 774 yuan per wet metric tonne (implied 62% Fe China Port Price, $100.95 per dry tonne), down by 11 yuan per wmt.Key driversChina's steel and iron ore futures largely trended downward during the day, despite a moderate uptick before the 3pm close. The benchmark iron ore contract ended 1.8% lower than Monday's settlement level.Spot iron ore trading at Chinese ports turned less active compared with a day earlier, and prices retreated.More seaborne trading activity took place in...