Seaborne iron ore prices were mixed on Tuesday June 23, amid continuing concerns over the demand outlook for finished steel products.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $100.62 per tonne, down $1.13 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $104.22 per tonne, up $0.03 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $91.28 per tonne, up $0.51 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $114 per tonne, down $0.40 per tonne.
62% Fe fines, fot Qingdao: 793 yuan per wet metric tonne (
implied 62% Fe China Port Price: $103.39 per dry tonne), up 4 yuan per wmt.
Key drivers
Demand for steel reinforcing bar (rebar) was still being inhibited by the heavy rainfall across several parts of China, with a recent heat wave in Guangdong and Beijing also affecting activity the construction sector and, thereby, indirectly affecting demand for iron ore.
The impact from the resurgence...