Further significant declines in global iron ore prices

SteelOrbis has learned from market sources that iron ore prices in the international markets have declined significantly over the past two weeks. Accordingly, in the two weeks up to yesterday, August 27 the price for Australian PB fines with 61.5 percent iron content declined by $13-14/mt and has decreased by a further $3/mt since yesterday to $96-98/mt CFR. Meanwhile, the price decline for Australian Yandi fines with 58 percent iron content was $14-15/mt for the two weeks up to yesterday and has declined by a further $4/mt since yesterday, with the current price standing at $85-87/mt CFR.
 
In the meantime, SteelOrbis has further learned that the price of Indian fines with 63-63.5 percent iron content is at $101-103/mt CFR, while the price of Indian fines with 61-62 percent iron content is $96-97/mt CFR. Both price ranges indicated a decrease of $13-14/mt in the two weeks up to yesterday, with a further decline of $4/mt since yesterday.
 
Furthermore, the current price of Brazilian Carajas fines with 66 percent iron content is $106-108/mt CFR, with a drop of $13/mt over the past two weeks up to yesterday and an additional decline of $4/mt since yesterday.