Iron ore prices fell on Wednesday August 18 amid growing concerns about supply outweighing demand and weaker steel prices, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $153.39 per tonne, down $7.36 per tonne
62% Fe low-alumina fines, cfr Qingdao: $154.07 per tonne, down $7.58 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $123.48 per tonne, down $6.06 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $179.80 per tonne, down $8.90 per tonne
62% Fe fines, fot Qingdao: 1,123 yuan per wet metric tonne (implied
62% Fe China Port Price: $161.46 per dry tonne), down by 19 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.220 per dry metric tonne unit (dmtu), down $0.015 per dmtu
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) continued its downward trend, ending down by 2.5% from Wednesday's closing price of 834 yuan ($129) per tonne.
The...