Iron ore prices were largely rangebound on Wednesday February 24 due to limited demand from steel mills, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $172.71 per tonne, down $0.34 per tonne
62% Fe low-alumina fines, cfr Qingdao: $173.11 per tonne, down $0.41 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.36 per tonne, down $1.00 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $196.90 per tonne, down $0.40 per tonne
62% Fe fines, fot Qingdao: 1,185 yuan per wet metric tonne (implied
62% Fe China Port Price: $171.06 per dry tonne), down by 10 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) traded largely sideways through the day but began a slight uptick just before the trading session closed, ending...