IRON ORE DAILY: Seaborne prices dip on concern about Tangshan output limits

Seaborne iron ore prices were down on Thursday April 16 with market participants assessing the likely effects of restrictions on blast furnace-based steel output in the Chinese production hub of Tangshan until the end of April, as part of a package of environmental protection measures.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $85.37 per tonne, down by $1.49 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $87.66 per tonne, down by $0.82 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $74.51 per tonne, down by $1.22 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $102.50 per tonne, down by $0.40 per tonne.
62% Fe fines, fot Qingdao: 676 yuan per wet metric tonne (implied 62% Fe China Port Price: $87.76 per dry tonne), down by 3 yuan per wmt.
Key drivers

A mill source in Tangshan said that the restrictions on blast furnaces were likely to be at their most strict in Fengnan, while other districts may see less stringent curbs. The source estimated that his mill would lose 60,000 tonnes per day of hot metal production,...

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