Chinese iron ore buyers continued to take caution on Friday December 28, the last trading day for most market participants in 2018.
MB 62% Fe Iron Ore Index: $72.73 per tonne cfr Qingdao, up $1.25 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.56 per tonne cfr Qingdao, up $1.25 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.56 per tonne. MB 58% Fe Premium Index: $64.15 per tonne cfr Qingdao, up $0.16 per tonne. MB 65% Fe Iron Ore Index: $87.30 per tonne cfr Qingdao, up $0.30 per tonne. MB 62% Fe China Port Price Index: 555 yuan per wet metric tonne (implied 62% Fe China Port Price $71.48 per dry tonne), down 3 yuan per wmt.Key driversChina's ferrous futures moved in a relatively narrow range during the day, while the 62% and 65% Fe derivatives on the Singapore Exchange moderately increased.The billet price in Tangshan, which is indicative of the sentiment in the country's ferrous market, dropped 80 yuan ($11.60) per tonne...