Physical iron ore prices continued to strengthen on Thursday May 31, with Brazilian materials still outshining others.
Metal Bulletin 62% Fe Iron Ore Index:$65.32 per tonne cfr Qingdao, down by $0.46 per tonneMetal Bulletin 58% Fe Premium Index:$53.31 per tonne cfr Qingdao, up by $0.16 per tonneMetal Bulletin 65% Fe Iron Ore Index:$85.80 per tonne cfr Qingdao, up by $0.90 per tonneMetal Bulletin 62% Fe China Port Price Index: 472 yuan per wet tonne (implied 62% Fe China Port Price $64.49 per dry tonne), up by 11 yuan per wet tonneKey driversChina's ferrous futures have largely trended upward since Wednesday night, while the country's spot rebar and hot-rolled coil prices also gained 10-50 yuan...