Fastmarkets’ 62% Fe fines index, CFR Qingdao, remained at $97.40 per dry metric tonne on September 23.
Traders reported ample seaborne supply and weakening margins at Chinese steel mills.
A cargo of Mining Area C fines traded at $94.50 per dry metric tonne CFR Qingdao.
Some mills were choosing lower-cost high-grade ore from West Africa, while demand for lump ore remained weak.
Market participants said supply pressure could become clearer if mills do not restock strongly after the early-October holidays.
