Prices for mid-grade seaborne iron ore slid below $85 per tonne cfr China on Monday November 4, the first time since August 30.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.27 per tonne, down $2.29 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $83.09 per tonne, down $2.29 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.71 per tonne, down $2.23 per tonne.58% Fe fines high-premium, cfr Qingdao: $73.19 per tonne, down $1.86 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $93.10 per tonne, down $1.70 per tonne. 62% Fe fines, fot Qingdao: 665 yuan per wet metric tonne (implied 62% Fe China Port Price, $86.62 per dry tonne), unchanged.Key driversChina's benchmark January iron ore futures trended downward throughout the day and ended around 1.7% lower compared with last Friday's closing price. The November and December 62% Fe derivative contracts on the Singapore Exchange (SGX) also fell by around $1.70 per tonne and $1.60 per tonne respectively from the previous...