Iron ore prices fell sharply on Friday May 14 amid concerns over weakened steel demand, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $208.79 per tonne, down by $28.78 per tonne
62% Fe low-alumina fines, cfr Qingdao: $211.19 per tonne, down by $28.81 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $179.29 per tonne, down by $27.93 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $241.70 per tonne, down by $26.10 per tonne
62% Fe fines, fot Qingdao: 1,439 yuan per wet metric tonne (
implied 62% Fe China Port Price: $208.96 per dry tonne), down by 234 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5100 per dry metric tonne unit (dmtu), up by $0.0500 per dmtu.
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) stayed largely flat at the opening...