Physical iron ore prices improved on Tuesday March 12 following advances in China's futures and steel markets, as well as further uncertainty over Vale's supplies from Brazil.
MB 62% Fe Iron Ore Index: $85.25 per tonne cfr Qingdao, up $1.46 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.37 per tonne cfr Qingdao, up $1.18 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.35 per tonne cfr Qingdao, up $1.69 per tonne. MB 58% Fe Premium Index: $76.38 per tonne cfr Qingdao, up $2.02 per tonne. MB 65% Fe Iron Ore Index: $96.80 per tonne cfr Qingdao, up $1.40 per tonne. MB 62% Fe China Port Price Index: 625 yuan per wet metric tonne (implied 62% Fe China Port Price $82.64 per dry tonne), up 5 yuan per wmt.Key driversBrazilian miner Vale said late on Monday that it had received a notification from the Mangaratiba city government, in Rio de Janeiro state, ordering the temporary suspension of port activities at the Gua?-ba Island terminal.However, the miner said it has all the required licenses for the regular...