Seaborne iron ore prices continued to correct below the $90-per-tonne-cfr mark on Friday September 6 amid futures losses and thin physical trading.
62% Fe fines, cfr Qingdao: $89.05 per tonne, down $1.13 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $89.44 per tonne, down $1.13 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, down $1.07 per tonne.
58% Fe fines high-premium, cfr Qingdao: $80.24 per tonne, down $0.63 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $95.80 per tonne, down $0.80 per tonne.
62% Fe fines, fot Qingdao: 745 yuan per wet metric tonne (implied 62% Fe China Port Price, $95.91 per dry tonne), down 19 yuan per wmt.
Key drivers
China’s steel and iron ore futures presented some weakness on Thursday night and Friday morning, before a quick retreat in the afternoon. The benchmark iron ore contract ended 3.9% lower than the settlement level a day earlier.
Physical iron ore trading activity was…
