Seaborne iron ore prices fell across the board on Wednesday February 20 amid a quiet trading day, while Fortescue Metals Group (FMG) announced its product discount levels for March.
MB 62% Fe Iron Ore Index: $88 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.40 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.10 per tonne cfr Qingdao, down $0.97 per tonne. MB 58% Fe Premium Index: $77.61 per tonne cfr Qingdao, down $1.12 per tonne. MB 65% Fe Iron Ore Index: $100.20 per tonne cfr Qingdao, down $0.40 per tonne. MB 62% Fe China Port Price Index: 648 yuan per wet metric tonne (implied 62% Fe China Port Price $85.31 per dry tonne), down 9 yuan per wet metric tonne. Key driversFMG has further narrowed the downward price adjustment for March shipments of its 56.5% Fe Super Special fines and 58.2% Fe Fortescue Blend fines to 16% and 7% respectively based on a 62% Fe index, from 33% and 22% for February shipments, according...