Published by:Shu Yi Zheng<>
27 May 2025 @ 11:58 UTC
Seaborne iron ore prices continued to edge lower on Tuesday May 27, mainly due to weakening sentiment caused by declining steel output during the seasonal slowdown in end-user demand, sources told Fastmarkets.

Key drivers The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) on Tuesday was lower than the previous day’s closing price of 706.50 yuan ($98) per tonne.
And by 6:03 pm Singapore time, the most-traded June contract on the Singapore Exchange (SGX) was down by $1.02 per tonne compared with the previous settlement price of $97.07 per tonne.
A Zhejiang-based trader in eastern China said that steel demand was being affected by the rainy season in the south of the country and Chinese hot metal production continued to decline in response.
And demand for iron ore is expected to slow down as hot metal production drops further, the trader added.
A Singapore-based trader said there had been rumors of crude steel production cuts in eastern China in Shandong province, with output likely to be down by 4.46 million tonnes this year.
The reaction to this was said to be muted, however, because traders are waiting for official confirmation, the trader added.
In terms of iron ore lump, premiums have been supported by declining port inventories in China, a steelmaker in the northern province of Shanxi told Fastmarkets, adding that iron ore lump demand was strong in China’s northern steelmaking hub of Tangshan city.
In terms of iron ore concentrate and pellet feed, a Beijing-based steelmaker said that a cargo of Ukrainian 65% Fe concentrate was traded at the monthly average of a 65% Fe index with a discount of $4.70 per tonne – narrowing from previous traded discount at above $5 per tonne level in mid-May.
Market participants said that demand for concentrates and pellet feed had improved in the spot market because a major Chinese buyer procured significant volumes of pellet feed from the seaborne spot market after Peruvian pellet feed supplies were disrupted by a collapsed loader in Peru.
Other market participants said the shrinking price gap between mid- and high-grade fines could push buyers to choose higher-grade fines over sintering concentrates.
High-grade fines cargoes have slightly better liquidity than concentrates, but demand for high-grade material remains weak due to thin steelmaking margins and low coke prices, a steelmaker in the central province of Hunan told Fastmarkets.
Fastmarkets’ iron ore indices 62% Fe fines, cfr Qingdao:$96.41 per tonne, down $0.86 per tonne 62% Fe low-alumina fines, cfr Qingdao:$95.70 per tonne, down $0.83 per tonne 58% Fe fines high-grade premium, cfr Qingdao:$84.67 per tonne, down $0.83 per tonne 65% Fe Brazil-origin fines, cfr Qingdao:$107.11 per tonne, down $1.15 per tonne 62.5% Fe Australia-origin lump ore premium, cfr Qingdao:$0.1550 per dry metric tonne unit (dmtu), unchanged 62% Fe fines, fot Qingdao:757 yuan per wet metric tonne(implied 62% Fe China Port Price:$96.89 per dry tonne), down by 10 yuan per wmt 67.5% Fe pellet feed premium, cfr Qingdao:$0.80 per tonne, unchanged 67.5% Fe pellet feed, cfr Qingdao:$112.45 per tonne, down $0.86 per tonne 65% Fe concentrate premium, cfr Qingdao:$(5.20) per tonne, unchanged 65% Fe concentrate, cfr Qingdao:$101.70 per tonne, down $0.86 per tonne
Trades/offers/bids heard in the market Rio Tinto, Beijing Iron Ore Trading Center (COREX), 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $92.05 per tonne CFR Qingdao, laycan July 8-17
BHP, COREX, 90,000 tonnes of 60.5% Fe Jimblebar fines, traded at July average of two 62% Fe iron ore fines index with a discount of $5.80 per tonne, laycan June 26- July 5
BHP, globalORE, 80,000 tonnes of 62% Fe Newman Blend fines, traded at $93.30 per tonne CFR Qingdao, laycan June 26-July 5
Tender, 70,000 tonnes of 62% Fe Australia Karara concentrates, traded at July average of a 62% Fe iron ore fines index with a discount of $1.88 per tonne, late June loaded
Market participant indications Fastmarkets’ index for iron ore 62% Fe fines CFR Qingdao Pilbara Blend fines: $93.70-97.10 per tonne Brazilian Blend fines: $95.32-96.00 per tonne Mac fines: $92.82-94.10 per tonne Jimblebar fines: $89.20-90.60 per tonne
Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines CFR Qingdao Iron Ore Carajas: $106.50-107.80 per tonne
Fastmarkets’ index for iron ore 67.5% Fe Pellet Feed Premium, CFR Qingdao Minas Rio BFPF Pellet Feed: $(3.00)-(4.70) per tonne Atacama CNN Pellet Feed: $(2.50)-(3.00) per tonne Romeral Pellet Feed: $(2.00) per tonne Kaunis Pellet Feed: $0.00-1.00 per tonne Metinvest 68% Pellet Feed: $(3.00)-(4.00) per tonne
Fastmarkets’ index for iron ore 65% Fe Concentrate Premium, CFR Qingdao Citic Pacific Concentrate: $(5.50) per tonne Karara Concentrate: $(6.89) per tonne SIMEC Concentrate: $(1.00)-0.50 per tonne Metinvest SevGok Concentrate: $(4.70)-(5.50) per tonne
Port prices Pilbara Blend fines were traded at 733-751 yuan per wmt in Shandong province and in the ports of Tangshan city on Tuesday, compared with 740-765 yuan per wmt on Monday.
The latest range is equivalent to about $94-96 per tonne in the seaborne market.
Dalian Commodity Exchange The most-traded September iron ore futures contract on the exchange closed at 697 yuan per tonne on Tuesday, down by 9.50 yuan per tonne from Monday’s closing price.