IRON ORE DAILY: Mid-grade fines prices dip despite tropical low approaching Pilbara

Iron ore prices for mid-grade fines dropped on Wednesday January 20 due to weak demand for steel despite the potential impact of tropical cyclone near West Australia on shipments, while high-grade fines gained on tight supply.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $170.55 per tonne, down $0.78 per tonne
62% Fe low-alumina fines, cfr Qingdao: $171.50 per tonne, down $0.10 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $157.82 per tonne, down $1.87 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $194.10 per tonne, up $1.60 per tonne
62% Fe fines, fot Qingdao: 1,164 yuan per wet metric tonne (implied 62% Fe China Port Price: $167.58 per dry tonne), down by 1 yuan per wmt
Key drivers

After a dip during the night trading session on Tuesday, the most-trade iron ore futures May contract on the Dalian Commodity Exchange (DCE) rebounded at Wednesday's open and fluctuated around the close price level through the day. It ended up by 1.2%...

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