Physical iron ore prices softened on Friday May 25 amid declining futures despite gains in the steel market.
Metal Bulletin 62% Fe Iron Ore Index: $63.94 per tonne cfr Qingdao, down by $2.44 per tonneMetal Bulletin 58% Fe Premium Index: $52.72 per tonne cfr Qingdao, down by $0.33 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, down by $0.60 per tonneMetal Bulletin 62% Fe China Port Price Index: 461 yuan per wet tonne (implied 62% Fe China Port Price $63.11 per dry tonne), down by 7 yuan per tonneKey driversChina's ferrous futures largely trended downward during the day, with the benchmark iron ore contract ending 0.7% lower than the preceding day's settlement...