Physical iron ore prices rebounded on Monday April 22 amid gains in the steel and futures markets, after declining over consecutive days last week.
MB 62% Fe Iron Ore Index: $94.48 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.26 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.75 per tonne cfr Qingdao, up $2.73 per tonne. MB 58% Fe Premium Index: $84.53 per tonne cfr Qingdao, up $1.87 per tonne. MB 65% Fe Iron Ore Index: $107.80 per tonne cfr Qingdao, up $1.80 per tonne.MB 62% Fe China Port Price Index: 680 yuan per wet metric tonne (implied 62% Fe China Port Price $92.92 per dry tonne), up 9 yuan per wmt.Key driversChina's steel and iron ore futures all advanced during last Friday's night trading session and stayed rangebound for most of Monday, apart from a spike between 2pm and 3pm, particularly for...