Seaborne iron ore prices fell on Thursday September 2, with the outlook remaining bearish despite a drop in steel inventories amid relatively active port trading, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $142.02 per tonne,down $1.41 per tonne
62% Fe low-alumina fines, cfr Qingdao: $142.59 per tonne,down $1.64 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $112.02 per tonne,down $0.70 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $160.70 per tonne,down $1.60 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0800 per dry metric tonne unit (dmtu), down $0.0050 per dmtu
62% Fe fines, fot Qingdao: 1,059 yuan per wet metric tonne (
implied 62% Fe China Port Price: $152.52 per dry tonne), up by 5 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) pushed up after opening and drifted down in the afternoon to the day up...