Seaborne iron ore prices dropped on Tuesday April 21, following the crash in US oil prices, which fell into negative territory late on Monday evening in Singapore for the first time on record, Fastmarkets understands.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $84.37 per tonne, down $3.08 per tonne
62% Fe low-alumina fines, cfr Qingdao: $85.96 per tonne, down $3.15 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $73.08 per tonne, down $2.71 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $101.1 per tonne, down $2.60 per tonne
62% Fe fines, fot Qingdao: 666 yuan per wet metric tonne (
62% Fe China Port Price: $86.2 per dry tonne), down 13 yuan per wmt.
Key drivers
A trader source...