Seaborne iron ore prices were rangebound on Tuesday September 1 while port side trading activity showed an increased interest toward low-grade fines, trade sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $124.66 per tonne, up $0.19 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $125.10 per tonne, up $0.89 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $110.63 per tonne, up $0.69 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $137.60 per tonne, up $0.30 per tonne.
62% Fe fines, fot Qingdao: 951 yuan per wet metric tonne (
implied 62% Fe China Port Price: $128.81 per dry tonne), down by 3 yuan per wmt
Key drivers
Market participants believe Chinese mills' consumption of low-grade fines went on to generate increased buying interest at other Chinese ports.
Some Chinese mills were said to be...