Iron ore prices have bucked the upward trend on Tuesday January 19 amid weakened sentiment in the market, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $171.33 per tonne, down $2.74 per tonne
62% Fe low-alumina fines, cfr Qingdao: $171.60 per tonne, down $3.06 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $159.69 per tonne, down $1.20 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $192.50 per tonne, down $2.80 per tonne
62% Fe fines, fot Qingdao: 1,165 yuan per wet metric tonne (
implied 62% Fe China Port Price: $167.46 per dry tonne), down by 3 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) started to fall at Tuesday's open and remained on a downtrend through the day, ending the session down by 2.7% from Monday's closing price of 1,075.50 yuan ($166) per tonne.
Iron ore forward-month swaps contracts on the Singapore...