The seaborne iron ore market continued to weaken on Wednesday April 25, with a cargo of Pilbara Blend fines even offered at a discount against the May average of an index.
Metal Bulletin 62% Fe Iron Ore Index: $66.38 per tonne cfr Qingdao, down by $0.88 per tonneMetal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, down by $0.14 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.70 per tonne cfr Qingdao, down by $0.60 per tonneMetal Bulletin 62% Fe China Port Price Index: 480 yuan per wet tonne (implied 62% Fe China Port Price $66.13 per dry tonne), down by 3 yuan per wet tonne Key driversChina's iron ore futures retreated for a second day, with the benchmark contract falling 1.6% from the preceding day's settlement price.A miner's tender for a cargo of the most-liquid Pilbara Blend fines was concluded in the morning at a fixed price that is $0.90...