Seaborne iron ore prices eased for the second consecutive trading session on Monday August 24 amid limited trading activity, according to trade sources.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $125.23 per tonne, down by $2.15 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $124.78 per tonne, down by $1.93 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $111.21 per tonne, down by $2.05 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $133.60 per tonne, down by $1.90 per tonne.
62% Fe fines, fot Qingdao: 956 yuan per wet metric tonne (
implied 62% Fe China Port Price: $128.25 per dry tonne), unchanged.
Key drivers
The market seems to have "cooled off from all the hype" last week, according to a Singapore-based trader.
Some traders believed the cause of the limited trading activity to be the earlier implementation of new processes...