Restrictions on steelmaking in China that are more stringent than had been expected meant that both iron ore demand and prices were reduced on Tuesday September 24.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.83 per tonne, down by $3.29 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.22 per tonne, down by $3.29 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.84 per tonne, down by $2.54 per tonne.58% Fe fines high-premium, cfr Qingdao: $79.32 per tonne, down by $2.53 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $97.80 per tonne, down by $2.90 per tonne.62% Fe fines, fot Qingdao: 741 yuan per wet metric tonne (implied 62% Fe China Port Price, $95.91 per dry tonne), down by 18 yuan per wmt.Key driversAuthorities in northern China's Tangshan steel hub issued a document late on Monday asking the majority of local steelmakers to halt their sintering...