Physical iron ore prices softened on Wednesday April 11 amid a retreating futures market in China.
Metal Bulletin 62% Fe Iron Ore Index: $64.79 per tonne cfr Qingdao, down by $0.51 per tonneMetal Bulletin 58% Fe Premium Index: $52.51 per tonne cfr Qingdao, down by $0.24 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, down by $1 per tonneMetal Bulletin 62% Fe China Port Price Index: 458 yuan per wet tonne (implied 62% Fe China Port Price $63.25 per dry tonne), down by 4 yuan per wet tonneKey driversChinese ferrous futures trended upward during Tuesday night's trading session but declined steadily throughout the day on Wednesday. The benchmark iron ore contract ended Wednesday 0.7% lower...