Iron ore prices increased on Monday June 25 while lump premiums continued to rise amid ongoing restrictions on production in China's steelmaking hub of Tangshan.
Metal Bulletin 62% Fe Iron Ore Index: $65.49 per tonne cfr Qingdao, up $0.15 per tonneMetal Bulletin 58% Fe Premium Index: $53.06 per tonne cfr Qingdao, down $0.51 per tonneMetal Bulletin 65% Fe Iron Ore Index: $89.60 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China Port Price Index: 467 yuan per wet tonne (implied 62% Fe China Port Price $62.54 per dry tonne), up 4 yuan per wet tonne Metal Bulletin 63% Fe Australian Lump Premium: $0.2550 per dry metric tonne unit, up $0.0150 per dry metric tonne unit Key driversChina's steel prices in both the physical and futures market declined during the day while those for iron ore rose, after an announcement by the country's central bank on Sunday that it would lower the reserve ratio requirement for certain banks.A miner closed a seaborne tender for Pilbara Blend fines at...