Iron ore trading activity picked up on Tuesday April 10 amid futures and steel gains, but buyers have remained cautious.
Metal Bulletin 62% Fe Iron Ore Index:$65.30 per tonne cfr Qingdao, up by $1.35 per tonneMetal Bulletin 58% Fe Premium Index:$52.75 per tonne cfr Qingdao, up by $0.54 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82.70 per tonne cfr Qingdao, up by $1 per tonneMetal Bulletin 62% Fe China Port Price Index: 462 yuan per wet tonne (implied 62% Fe China Port Price $63.76 per dry tonne), up 8 yuan per tonneKey driversAt least six seaborne deals were heard concluded by miners or on platforms during the day, while trading at Chinese ports was described as relatively active.Those deals followed across-the-board gains in China's benchmark ferrous futures contracts, which were up by 1.4-2.7%, and an increase of 30-40 yuan ($4.80-6.30) per tonne in the country's spot rebar and hot-rolled...