Seaborne iron ore prices fell on Wednesday July 31, on an uncertain outlook for the markets.
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.15 per tonne, down by $2.46 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $115.65 per tonne, down by $3.88 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $118.34 per dmt, down by $2.55 per dmt.Fastmarkets' index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $107.84 per tonne, up by $1.37 per tonne.Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $126.40 per tonne, down by $1.60 per tonne.Fastmarkets' index for iron ore 62% Fe fines, fot Qingdao: 896 yuan per wet metric tonne (implied 62% Fe China Port Price $120.52 per dry tonne), up by 3 yuan per wmt.Key driversMarket participants believed that the uncertain outlook for steel consumption has added downward pressure on the prices for iron ore.Despite the earlier draft notice circulated to...