IRON ORE DAILY: Risk-averse attitude drags prices lower

Seaborne iron ore prices dropped on Friday March 6 with traders becoming risk-averse ahead of the weekend, with concerns over the spread of the 2019-nCoV coronavirus and its effect on the global economy overwhelming what market participants described as "not bad to healthy" physical demand for iron ore.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $90.19 per tonne, down by $2.38 per tonne
62% Fe low-alumina fines, cfr Qingdao: $91.28 per tonne, down by $2.32 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $79.50 per tonne, down by $1.93 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $104.50 per tonne, down by $1.90 per tonne
62% Fe fines, fot Qingdao: 672 yuan per wet metric tonne (62% Fe China Port Price: $88.69 per dry tonne), down by 3 yuan per wmt.
Key drivers

Futures prices on the Dalian Commodity Exchange and Singapore Exchange retreated during the day, although market participants pointed that physical iron ore prices have fundamental support due...

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