Seaborne iron ore prices inched downward on Wednesday October 27 because most market participants were cautious about procurement amid the generally weak demand outlooks for the rest of 2021, market sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $119.86 per tonne, down by $2.44 per tonne
62% Fe low-alumina fines, cfr Qingdao: $122.15 per tonne, down by $1.96 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $91.12 per tonne, down by $3.29 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $140.70 per tonne, down by $2.50 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2350 per dry metric tonne unit (dmtu), unchanged
62% Fe fines, fot Qingdao: 851 yuan per wet metric tonne (
implied 62% Fe China Port Price: $123.33 per dry tonne), down by 9 yuan per wmt.
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange fell in morning trading on Wednesday before increasing in the...