Iron ore prices retreated on Monday April 16 on thin trading amid China's weakening steel and futures markets.
Metal Bulletin 62% Fe Iron Ore Index: $63.93 per tonne cfr Qingdao, down by $1.03 per tonneMetal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81 per tonne cfr Qingdao, down by $1.20 per tonneMetal Bulletin 62% Fe China Port Price Index: 461 yuan per wet tonne (implied 62% Fe China Port Price $63.71 per dry tonne), unchanged Key driversChina's benchmark steel and iron ore futures contracts all tanked during the day, with the latter ending 2.6% lower than its settlement price last Friday.The country's spot rebar prices also...