IRON ORE DAILY: Prices inch down amid expectations of strong supply from Australia easing shortage concerns

摘要

Seaborne iron ore prices moved down on Wednesday July 22 amid market expectations that strong supply from Australia could offset supply uncertainties from Brazil. The iron ore futures market was flat at the close compared with the previous day, after rising as high as 861.50 yuan per tonne during the morning trading session on the Dalian Commodity Exchange, where the most-traded September futures contract inched up by 0.06%. Similar volatility was seen in iron ore swaps on the Singapore Exchange, where the most liquid August contract lost $0.05 per tonne by 6pm.