Seaborne iron ore prices continued to retreat on Monday October 21 to just above $85 per tonne cfr China amid pessimism about prices and margins.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $85.40 per tonne, down by $0.96 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $85.05 per tonne, down by $0.35 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.24 per tonne, down by $0.69 per tonne.58% Fe fines high-premium, cfr Qingdao: $75.25 per tonne, down by $0.23 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $93.60 per tonne, down by $1.30 per tonne.62% Fe fines, fot Qingdao: 685 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.69 per dry tonne), unchanged.Key driversChinese steel and iron ore futures slipped on Monday morning and largely stayed weak for the rest of the day's trading session.The November 62% Fe contract of iron ore derivative on the Singapore Exchange also traded moderately lower...