Australian iron ore prices firmed up on Tuesday October 23 supported by limited availability, while there were softer prices for Brazilian material.
MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.70 per tonne cfr Qingdao, down by $0.30 per tonne.MB 58% Fe Premium Index: $64.85 per tonne cfr Qingdao, up by $2.59 per tonne.MB 65% Fe Iron Ore Index: $97.70 per tonne cfr Qingdao, down by $0.60 per tonne.MB 62% Fe China Port Price Index: 568 yuan per wet metric tonne (implied 62% Fe China Port Price $72.47 per dry tonne), unchanged.Key driversPhysical iron ore prices were generally rangebound during the day amid corrections in the futures and steel markets after gains posted on Monday.Sellers largely kept offers steady while more buyers have been standing on the sidelines since Monday, who were cautious about the price rising toward $75 per tonne cfr.Higher...