Seaborne iron ore prices experienced a downward turn on Wednesday September 23 amid a bearish demand outlook for steel products and weaker market sentiment overall, according to trade sources.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $113.81 per tonne, down $3.49 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $115.41 per tonne, down $2.33 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $107.85 per tonne, down $1.50 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $127.20 per tonne, down $3.10 per tonne.
62% Fe fines, fot Qingdao: 898 yuan per wet metric tonne (implied
62% Fe China Port Price: $122.64 per dry tonne), down by 16 yuan per wmt.
Key drivers
Market fundamentals for iron ore were unchanged on Wednesday, but a weak demand outlook for steel products continues to pile pressure on prices, according to...