Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.
MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingdao, down $1.36 per tonne. MB 58% Fe Premium Index: $66.38 per tonne cfr Qingdao, down $2.21 per tonne. MB 65% Fe Iron Ore Index: $88.90 per tonne cfr Qingdao, down $1.10 per tonne. MB 62% Fe China Port Price Index: 575 yuan per wet metric tonne (implied 62% Fe China Port Price $74.83 per dry tonne), up 3 yuan per wet metric tonne.Key driversChina's rebar and iron ore futures weakened in the day, while the 62% Fe iron ore swaps on the Singapore Exchange also dropped in the afternoon.Quite a few offers were made for Pilbara Blend fines on platforms, yet fetched no bid.Ample availability of the...