Seaborne iron ore prices fell on Wednesday September 9 amid limited demand in the steelmaking hub of Tangshan, according to trade sources.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $126.54 per tonne, down $2.58 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $126.83 per tonne, down $2.33 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $114.93 per tonne, down $0.26 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $139.40 per tonne, down $2.70 per tonne.
62% Fe fines, fot Qingdao: 960 yuan per wet metric tonne (implied
62% Fe China Port Price: $130.32 per dry tonne), up by 2 yuan per wmt
Key drivers
Stricter sintering restrictions imposed on Tuesday have led to limited demand for iron ore for consumption by steelmakers in the hub of Tangshan, traders said.
"For now, pollution levels are still not in the healthy range, so authorities introduced the stricter sintering restrictions to try to combat the pollution," a Beijing-based trader told Fastmarkets.
There was...