IRON ORE DAILY: Seaborne prices fall amid concerns about further steel production cut

August 31, 2021 / www.metalbulletin.com / Article Link

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...

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