Seaborne iron ore prices maintained their upward trend on Tuesday July 9, but low port inventories prompted concern among market participants.
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.57 per tonne, up by $3.19 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.49 per tonne, up by $3.19 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $123.50 per tonne, up by $4.41 per tonne.Fastmarkets' index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $111.85 per tonne, up by $3.39 per tonne.Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $128.60 per tonne, up by $0.70 per tonne.Fastmarkets' index for iron ore 62% Fe fines, fot Qingdao: 903 yuan per wet metric tonne (implied 62% Fe China Port Price $121.47 per dry tonne), up by 21 yuan per wmt.Key driversThe tight supply situation continued to drive seaborne iron ore prices upward, with some market participants believing that this trend was likely to persist in the...