Seaborne iron ore prices went down further on Thursday July 16 with few deals done in the seaborne market and persistent concerns of weak demand due to floods in southern China, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $112.30 per tonne, down $0.68 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $113.05 per tonne, down $1.06 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $99.63 per tonne, down $0.25 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $121.60 per tonne, down $2.30 per tonne.
62% Fe fines, fot Qingdao: 857 yuan per wet metric tonne (
implied 62% Fe China Port Price: $113.31 per dry tonne), down by 1 yuan per wmt.
Key drivers
The iron ore futures market cooled down from the peak reached at the start of the week with a daily decrease of 1.3% in the most liquid September contract on the Dalian Commodity Exchange, while the swap contracts of forward months on the Singapore Exchange declined around $1.50 per tonne.
The flood issues in...