IRON ORE DAILY: Bouncing back steel production cut expectation weakens prices

Iron ore prices decreased on Thursday August 5 with reduced market expectations of looser steel production restrictions in China, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $171.55 per tonne, down $12.14 per tonne
62% Fe low-alumina fines, cfr Qingdao: $172.76 per tonne, down $11.63 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $136.28 per tonne, down $11.63 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $203.50 per tonne, down $10.50 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3750 per dry metric tonne unit (dmtu), down $0.0300 per dmtu

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As expected, with a lower iron ore price, the 65% Fe margin increases over the 62% Fe in percentage terms. Now around 19%.