Physical iron ore trading and prices stayed tepid on Tuesday May 8 despite gains in the futures market.
Metal Bulletin 62% Fe Iron Ore Index: $66.80 per tonne cfr Qingdao, down by $0.46 per tonne Metal Bulletin 58% Fe Premium Index: $55.54 per tonne cfr Qingdao, down by $0.02 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 62% Fe China Port Price Index: 479 yuan per wet tonne (implied 62% Fe China Port Price $65.97 per dry tonne), up by 2 yuan per wet tonne Key driversChina's benchmark iron ore futures contract moved up during the day, while the rebar and hot-rolled coil contracts went in the opposite direction, with spot rebar prices in the east of China retreating 20 yuan ($3.10) per tonne.One miner closed a seaborne tender for Pilbara Blend...