Iron ore prices retreated on Wednesday April 24 following a downturn in the futures and steel markets.
MB 62% Fe Iron Ore Index: $93.55 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.33 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.94 per tonne cfr Qingdao, down $0.94 per tonne. MB 58% Fe Premium Index: $83.70 per tonne cfr Qingdao, down $0.13 per tonne. MB 65% Fe Iron Ore Index: $107.50 per tonne cfr Qingdao, down $0.60 per tonne.MB 62% Fe China Port Price Index: 680 yuan per wet metric tonne (implied 62% Fe China Port Price $92.38 per dry tonne), down 3 yuan per wmt.Key driversChina's steel and iron ore futures have all been weak since Tuesday night, with the benchmark contracts ending Wednesday 0.9-1.6% lower than Tuesday's settlement levels. The country's spot rebar and hot-rolled coil prices also fell 10-50 yuan ($1.50-7.40) per tonne in the day.Spot iron ore trading activity...