DAILY: Seaborne iron ore prices fell amid fading market expectations

Seaborne iron ore prices tumbled significantly on Thursday, July 30, weighed down by persistent weak demand from downstream steel mills. The Mysteel SEADEX 61% Fines Index fell $2.65/dmt to $94.45/dmt, while the 62% Low Alumina Fines Index shed $2.65/dmt to $100.70/dmt. Both indices are based on CFR Qingdao.

Primary market liquidity remained relatively robust. One parcel of MACF with a September 1–10 laycan was traded at a fixed price of $95.20/dmt on a 61% Fe basis, equating to a discount of $0.3–0.4/dmt to the September 61% Fines Index, marking a significant increase in its floating price. Market