Iron ore prices in the futures and seaborne market decreased while the port market remained relatively stable on Thursday October 22, sources said, adding that deals done for building materials had supported the seaborne and port prices.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $119.91 per tonne,down $0.58 per tonne
62% Fe low-alumina fines, cfr Qingdao: $119.99 per tonne,down $0.65 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $111.78 per tonne,down $0.27 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $133.30 per tonne,down $0.50 per tonne
62% Fe fines, fot Qingdao: 892 yuan per wet metric tonne (
implied 62% Fe China Port Price: $124.11 per dry tonne), up by 1 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) returned to its decline following a short-lived uptrend after the market opened before managing to rebound before the market closed at 3pm, ending the day with a drop of 0.4% from Wednesday's close price.
The iron ore swap contracts on...