Seaborne iron ore prices and trading stayed lackluster on Tuesday March 27 although futures and steel markets have experienced a rebound.
Key driversChina's steel and iron ore futures bounced up in the morning and ended with gains, despite a correction in the afternoon.The country's spot rebar and hot-rolled coil prices also increased 20-40 yuan ($3.20-6.40) per tonne during the day.Those have boosted market sentiment and mills are heard to be more actively restocking iron ore from ports, leading to slight gains in price.A seaborne transaction for Pilbara Blend fines was heard concluded at a price equivalent to just below $64 per tonne cfr China on a 62% Fe basis, while a deal for Iron Ore Carajas was clinched at $81 per tonne cfr. This indicated the still-wide gap between 62% and 65% Fe...