Prices for physical iron ore rose on Monday April 23 following gains in the paper market, though Chinese mills continued to take a cautious approach despite the gains.
Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, up by $0.61 per tonneMetal Bulletin 58% Fe Premium Index: $55.98 per tonne cfr Qingdao, up by $0.30 per tonneMetal Bulletin 65% Fe Iron Ore Index: $85.60 per tonne cfr Qingdao, up by $0.70 per tonneMetal Bulletin 62% Fe China Port Price Index: 481 yuan per wet tonne (implied 62% Fe China Port Price $66.26 per dry tonne), up by 8 yuan per wet tonne Key driversChina's ferrous futures advanced across the board during the day, with the benchmark iron ore contract rising as much as 3.1% in the morning compared with its settlement price last Friday. It dipped in the afternoon but still ended...