The downward momentum in the seaborne iron ore market slowed on Thursday January 18 with strengthening port prices.
Key drivers Rising port prices and stronger futures curves on all ferrous products have bolstered seaborne iron ore prices from further slides. Metal Bulletin's 62% Fe fines index has been dropping since it hit a five-month-high near to $80 per tonne last Thursday. Only high grade fines with less impurities can fetch a $1.50-2.00 per tonne premium over the 62% Fe index, such as Pilbara Blend fines and Newman fines, but brands such as Jimblebar fines and Mining Area C fines cargoes can only get marginal or even no premium against the 62% Fe fines index with...