Seaborne iron ore prices fell on Thursday May 20 amid falling steel prices and overall weakened demand, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $211.85 per tonne, down $4.31 per tonne
62% Fe low-alumina fines, cfr Qingdao: $214.07 per tonne, down $4.72 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $180.81 per tonne, down $4.90 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $245.10 per tonne, down $3.60 per tonne
62% Fe fines, fot Qingdao: 1,452 yuan per wet metric tonne (implied 62% Fe China Port Price: $211.47 per dry tonne), down by 76 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5050 per dry metric tonne unit (dmtu), down $0.0050 per dmtu.
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) trended down in the morning trading session but managed to rebound slightly after the mid-day break, ending down by 4.2% from Wednesday's closing price of 1,192.50 yuan ($185) per tonne.
The iron...