Physical iron ore prices retreated on Friday March 8 following declines in the futures market.
MB 62% Fe Iron Ore Index: $85.77 per tonne cfr Qingdao, down $1.84 per tonne. MB 62% Fe Pilbara Blend Fines Index: $85.17 per tonne cfr Qingdao, down $1.84 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.25 per tonne cfr Qingdao, down $1.76 per tonne. MB 58% Fe Premium Index: $75.88 per tonne cfr Qingdao, down $0.47 per tonne. MB 65% Fe Iron Ore Index: $98.60 per tonne cfr Qingdao, down $1.10 per tonne. MB 62% Fe China Port Price Index: 630 yuan per wet metric tonne (implied 62% Fe China Port Price $83.63 per dry tonne), down 5 yuan per wet metric tonne.Key driversChina's ferrous futures fluctuated on Friday to end the day on a downward trend.This, plus the weekend lull, dragged down spot iron ore trading activity and prices.A May-arrival Capesize cargo of 62% Fe Pilbara Blend fines was offered as low as $84 per tonne...