The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne
62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $156.00 per tonne, down $2.50 per tonne
62% Fe fines, fot Qingdao: 1,032 yuan per wet metric tonne (
implied 62% Fe China Port Price: $147.54 per dry tonne), down by 12 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1400 per dry metric tonne unit (dmtu), down $0.0450 per dmtu
Key drivers
Demand for iron ore lump has been weakening because of the increasing cost of coking coal, according to a northern China trader source, with several mills and trading houses seen offering lump cargoes on...