Trading activity in the physical iron ore market was subdued on Monday May 28 amid softening prices.
Metal Bulletin 62% Fe Iron Ore Index: $63.89 per tonne cfr Qingdao, down by $0.05 per tonneMetal Bulletin 58% Fe Premium Index: $53.07 per tonne cfr Qingdao, up by $0.35 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83 per tonne cfr Qingdao, down by $0.40 per tonneMetal Bulletin 62% Fe China Port Price Index: 461 yuan per wet tonne (implied 62% Fe China Port Price $63.06 per dry tonne), unchangedKey driversChina's ferrous futures largely trended downward during the day, with the benchmark iron ore contract shedding 1% in comparison with its settlement price last Friday.Mills in north China's steelmaking hub of Tangshan...