Spot iron ore prices strengthened on Friday May 11 following increases in the steel and futures markets.
Metal Bulletin 62% Fe Iron Ore Index: $67.42 per tonne cfr Qingdao, up by $0.59 per tonne Metal Bulletin 58% Fe Premium Index: $55.07 per tonne cfr Qingdao, up by $0.67 per tonne Metal Bulletin 65% Fe Iron Ore Index: $86.10 per tonne cfr Qingdao, up by $0.90 per tonne Metal Bulletin 62% Fe China Port Price Index: 482 yuan per wet tonne (implied 62% Fe China Port Price $66.74 per dry tonne), up by 9 yuan per wet tonne Key driversChina's ferrous futures posted strong gains across the board during the day, with the benchmark iron ore contract ending 2.8%...