The price gap between different grades of iron ore continued to hold up on Tuesday June 12 amid modest gains for this segment of the steelmaking raw materials market during the day.
Metal Bulletin 62% Fe Iron Ore Index: $67.23 per tonne cfr Qingdao, up by $0.48 per tonneMetal Bulletin 58% Fe Premium Index: $54.29 per tonne cfr Qingdao, up by $0.45 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88.20 per tonne cfr Qingdao, down by $0.20 per tonneMetal Bulletin 62% Fe China Port Price Index: 473 yuan per wet tonne (implied 62% Fe China Port Price $64.70 per dry tonne), up by 1 yuan per wet tonne Key driversChina's ferrous futures advanced across the board during the day, with the coke and coking coal contracts taking the lead. Spot rebar and hot-rolled coil prices also rose 10-50 yuan ($1.60-7.80) per tonne.Although transaction prices for iron ore were reported to...