The seaborne iron ore market picked up after the May 1 public holiday, following the announcement by steel mills of price hikes for early May shipments.
Metal Bulletin 62% Fe Iron Ore Index: $66.98 tonne cfr Qingdao, up by $1.55 per tonne Metal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, up by $0.46 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qingdao, up by $1.10 per tonne Metal Bulletin 62% Fe China Port Price Index: 478 yuan per wet tonne (implied 62% Fe China Port Price $65.97 per dry tonne), up by 4 yuan per wet tonne Key drivers Shagang announced today an increase in its long steel product prices for early May shipments, which...