Iron ore prices maintained their current level on Thursday July 1 amid active trading in the seaborne market and the ports in China, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $99.47 per tonne, up $0.30 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $102.10 per tonne, down $0.40 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne, up $0.84 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $112.50 per tonne, up $0.10 per tonne.
62% Fe fines, fot Qingdao: 794 yuan per wet metric tonne (
implied 62% Fe China Port Price: $103.62 per dry tonne), down by 3 yuan per wmt.
Key drivers
According to Brazil's Ministry of the Economy, the country's
iron ore export volumes totaled 30.05 million tonnes in June, up by 40% month on month and 1.3% year on year.
Sources said the market expectation of increasing iron ore supply from South America was leading the bearish attitude in the market.
"The exports...