Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne
62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, down $10.24 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $162.30 per tonne, down $9.70 per tonne
62% Fe fines, fot Qingdao: 1,054yuan ($163.05) per wet metric tonne (
implied 62% Fe China Port Price: $151.77 per dry tonne), down 45 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) maintained a downward trend through the day, ending down by 7.8% from Tuesday's closing price of 808 yuan ($125) per tonne.
The iron ore forward-month swap contracts on the Singapore Exchange (SGX) trended downward. By 6:01 pm Singapore time...