Iron ore prices down amid increasing port inventory
Iron ore prices dropped on Monday November 1 due to increasing port inventory in China and the country’s weakening manufacturing purchasing managers’ index (PMI) in October, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $103.43 per tonne, down $3.85 per tonne
62% Fe low-alumina fines, cfr Qingdao: $104.66 per tonne, down $4.91 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $73.94 per tonne, down $4.60 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $122.40 per tonne, down $4.70 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2250 per dry metric tonne unit (dmtu), down $0.0100 per dmtu
62% Fe fines, fot Qingdao: 787 yuan per wet metric tonne (implied 62% Fe China Port Price: $113.25 per dry tonne), down by 11 yuan per wmt
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