Seaborne iron ore market weakened further on Wednesday May 23 amid increased competition between medium-grade products.
Metal Bulletin 62% Fe Iron Ore Index: $64.11 per tonne cfr Qingdao, down by $0.30 per tonne Metal Bulletin 58% Fe Premium Index: $53.04 per tonne cfr Qingdao, up by $0.17 per tonne Metal Bulletin 65% Fe Iron Ore Index: $82.80 per tonne cfr Qingdao, down by $0.60 per tonne Metal Bulletin 62% Fe China Port Price Index: 463 yuan per wet tonne (implied 62% Fe China Port Price $63.41 per dry tonne), down by 3 yuan per tonneKey driversWith profitability in the steel market at a high and the Chinese government continuing to push toward...