Iron ore prices plunged on Friday May 21 amid thin liquidity on both the seaborne front and at the Chinese ports, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $200.72 per tonne, down $11.13 per tonne
62% Fe low-alumina fines, cfr Qingdao: $203.06 per tonne, down $11.01 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $172.75 per tonne, down $8.06 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $235.70 per tonne, down $9.40 per tonne
62% Fe fines, fot Qingdao: 1,413 yuan per wet metric tonne (
implied 62% Fe China Port Price: $205.67 per dry tonne), down by 39 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5000 per dry metric tonne unit (dmtu), down $0.0050 per dmtu.
Key drivers
The...