DAILY:Seaborne iron ore prices fall amid fading market expectations

Seaborne iron ore prices tumbled significantly on Wednesday, September 2, weighed down by persistent weak demand from downstream steel mills. The Mysteel SEADEX 61% Fines Index fell 2.41% or $2.4/dmt to $97/dmt, while the 62% Low Alumina Fines Index shed 2.31% or $2.4/dmt to $101.5/dmt. Both indices are based on CFR Qingdao.

Primary market liquidity remained relatively robust. One parcel of MACF with an October 1–10 laycan was traded at a fixed price of $98.00/dmt on a 61% Fe basis, equating to a premium of $0.3–0.4/dmt to the October 61% Fines Index. Marking a significant increase in its floating price compared