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IRON ORE DAILY: Prices drop while market mulls bearish downstream demand outlook, Brazil supply fears
Date: 30-01-2020 00:00:00

The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange’s derivatives for the steelmaking raw material a day earlier. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $86.84 per tonne, down $6.87 per tonne 62% Fe low-alumina fines, cfr Qingdao: $88.58 per tonne, down $6.36 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $73.69 per tonne, down $5.57 per tonne 65% Fe Brazil-origin fines, cfr Qingdao: $103.30, down $4.70 per tonne 62% Fe fines, fot Qingdao: 702 yuan per wet metric tonne (Implied 62% Fe China Port Price: $92.86 per dry tonne), unchanged Key drivers Fastmarkets' indices were down across the board on Wednesday amid the sharp drop in iron ore derivatives on the SGX a day earlier, followed by a slight recovery, which triggered active feedback from participants

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