Iron ore prices surged on Monday June 8 following Vale's suspension of its Itabira complex, despite its iron ore fines guidance being unchanged, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $105.67 per tonne, up $4.93 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $108.65 per tonne, up $5.41 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $94.53 per tonne, up $5.06 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $118.50 per tonne, up $5 per tonne.
62% Fe fines, fot Qingdao: 817 yuan per wet metric tonne (
implied 62% Fe China Port Price: $106.47 per dry tonne), up 36 yuan per wmt.
Key drivers
Vale announced over the weekend that it had suspended...