The price gap between seaborne cargoes of Brazilian Blend fines and Pilbara Blend fines widened further on Wednesday May 16 amid a mixed market.
Metal Bulletin 62% Fe Iron Ore Index: $68.03 per tonne cfr Qingdao, up by $0.75 per tonne Metal Bulletin 58% Fe Premium Index: $54.56 per tonne cfr Qingdao, unchanged Metal Bulletin 65% Fe Iron Ore Index: $86.20 per tonne cfr Qingdao, down by $0.10 per tonne Metal Bulletin 62% Fe China Port Price Index: 480 yuan per wet tonne (implied 62% Fe China Port Price $66.05 per dry tonne), down by 5 yuan per wet tonneKey driversChina's ferrous futures largely retreated in the afternoon after a spike in the last ten minutes of the morning trading session.Seaborne iron ore prices mirrored the movement, with a miner concluding a tender for Pilbara Blend fines in the morning at a price that is $0.11 per tonne higher than last one a day earlier, only to...