Iron ore prices fell further on Monday May 24 amid weakening sentiment, after reports that Chinese officials had held further discussions on Sunday about how to curb high commodities prices, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $192.42 per tonne, down $8.30 per tonne
62% Fe low-alumina fines, cfr Qingdao: $193.87 per tonne, down $9.19 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $163.47 per tonne, down $9.28 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $224.30 per tonne, down $11.40 per tonne
62% Fe fines, fot Qingdao: 1,376 yuan per wet metric tonne (
implied 62% Fe China Port Price: $200.04 per dry tonne), down by 37 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.4600 per dry metric tonne unit (dmtu), down $0.0400 per dmtu.
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) trended downward for most of the trading session on Monday, but rebounded slightly near the close to end the day...