Seaborne iron ore prices were largely rangebound on Monday October 19, with sentiment still weak, market participants told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $119.53 per tonne, up $0.45 per tonne
62% Fe low-alumina fines, cfr Qingdao: $119.90 per tonne, up $0.26 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $110.44 per tonne, up $0.17 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $132.30 per tonne, down $0.10 per tonne
62% Fe fines, fot Qingdao: 885 yuan per wet metric tonne (
implied 62% Fe China Port Price: $122.13 per dry tonne), down by 9 yuan per wmt
Key drivers
Traders said that with sentiment still weak, there was no real impetus for seaborne prices to rise and there was unlikely to be much movement.
High port inventories and winter emissions restrictions were factors keeping iron ore prices depressed, according to a Shanghai-based analyst.
At least one analyst in Singapore felt...