Seaborne iron ore prices were mostly stable on Monday November 8 amid continuing weak demand from Chinese steel mills, sources told Fastmarkets.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.82 per tonne, up $0.68 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.55 per tonne, up $0.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $65.68 per tonne, down $0.10 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $110.80 per tonne, unchanged63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2000 per dry metric tonne unit (dmtu), up $0.0150 per dmtu62% Fe fines, fot Qingdao: 684 yuan per wet metric tonne (implied 62% Fe China port price: $97.98 per dry tonne), down by 2 yuan per wmt Key driversThe most-traded January iron ore futures contract on the Dalian Commodity Exchange ended the day up by 1.8% from last Friday's closing price of 560.50 yuan ($88) per tonne.Iron ore forward-month swaps contracts...