Brazilian products continued to command a big premium over Australian materials in the seaborne iron ore market on Wednesday July 4.
Metal Bulletin 62% Fe Iron Ore Index: $64.20 per tonne cfr Qingdao, down $0.35 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.97 per tonne cfr Qingdao, down $0.49 per tonneMetal Bulletin 58% Fe Premium Index: $51.66 per tonne cfr Qingdao, down $0.29 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.60 per tonne cfr Qingdao, up $0.10 per tonne Metal Bulletin 62% Fe China Port Price Index: 468 yuan per wet metric tonne (implied 62% Fe China Port Price $61.77 per dry tonne), down 2 yuan per wmt Key driversChina's steel prices in the physical and futures markets posted some moderate gains during the day although the iron ore contract largely weakened. A miner concluded at tender for a 210,000-tonne Capesize cargo of Pilbara Blend fines at a price that is $0.52 per tonne below that for a half-Capesize shipment on Tuesday. The miner's typical Capesize...