Iron ore prices were largely rangebound on Wednesday March 10 in a more stable market following the steep plunge on Tuesday, with the lower prices attracting some buying interest but overall demand is suppressed due to continued environmental restrictions in China.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $164.67 per tonne, up $0.26 per tonne
62% Fe low-alumina fines, cfr Qingdao: $164.75 per tonne, up $0.08 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $151.92 per tonne, down $1.12 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $188.80 per tonne, down $0.50 per tonne
62% Fe fines, fot Qingdao: 1,129 yuan per wet metric tonne (
implied 62% Fe China Port Price: $161.57 per dry tonne), down by 29 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5100 per dry metric tonne unit (dmtu), up $0.0050 per dmtu.
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) was largely flat for the entire Wednesday trading...