DAILY: Seaborne iron ore index falls as market expectations have changed

Seaborne iron ore prices fluctuated narrowly on Thursday, October 22,2026, with Mysteel SEADEX 61% Fines Index fall 1.38% or $1.25/dmt to $89.45/dmt, while the 62% Low Alumina Fines Index down 0.94% or $0.90/dmt to $94.65/dmt. Both indices are based on CFR Qingdao.

Some market participants noted that rumors about a new long-term contract having been negotiated had been circulating in the market since yesterday evening, which had a more direct impact on price expectations. "For now, everything is just market rumor, there is no more detailed or definitive information about the