IRON ORE DAILY: Added winter restrictions weaken prices further

Seaborne iron ore prices dropped further on Friday September 17 after more cities in northern China said that they would implement production restrictions in winter, sources have told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $101.95 per tonne, down by $5.26 per tonne
62% Fe low-alumina fines, cfr Qingdao: $103.95 per tonne, down by $4.21 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $73.52 per tonne, down by $6.13 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $127.50 per tonne, down by $5.60 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0200 per dry metric tonne unit (dmtu), down by $0.0050 per dmtu
62% Fe fines, fot Qingdao: 780 yuan per wet metric tonne (implied 62% Fe China Port Price: $111.50 per dry tonne), down by 95 yuan per wmt.
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) opened amid fluctuations and ended the day down by 6.2% from Thursday’s closing price of 670.50 yuan...

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Comment: The DCE is now closed until Wednesday, so it should follow that there will be no change in the spot price until Wed night.