Seaborne iron ore prices continued to strengthen on Wednesday February 7 with a few high-grade brands changing hands at higher levels, while some uncertainties have emerged over exports out of India.
Key driversChinese steelmakers are again seeking high-grade iron ore such as Newman and Carajas fines amid a widening of their profit margins and expectations of a possible extension of winter restrictions on blast furnaces beyond March 15 despite the local government in Hebei province denying such a possibility last week, according to sources.These had likely contributed to the increases in the premiums for index-linked shipments of the two brands as well as Pilbara Blend fines this week, a trader in south China said.Fixed-price transactions for seaborne cargoes of the first two brands were also concluded about $1 per tonne higher during the day in comparison with a...