Seaborne iron ore prices decreased on Monday August 30 due to China's potentially stricter steel production cuts by the end of November, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $156.66 per tonne, down by $0.89 per tonne
62% Fe low-alumina fines, cfr Qingdao: $157.19 per tonne, down $0.65 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $125.81 per tonne, down $0.69 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $174.80 per tonne, down $1.30 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0850 per dry metric tonne unit (dmtu), down by $0.0250 per dmtu
62% Fe fines, fot Qingdao: 1,104 yuan per wet metric tonne (implied
62% Fe China Port Price: $159.02 per dry tonne), up by 31 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) went down after opening...