Some physical iron ore sellers made offers on the low side on Thursday November 22 amid losses in paper markets and concerns over shrinking steelmaking margins.
MB 62% Fe Iron Ore Index: $72.18 per tonne cfr Qingdao, down $1.88 per tonne.MB 62% Fe Pilbara Blend Fines Index: $71.37 per tonne cfr Qingdao, down $1.88 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.82 per tonne cfr Qingdao, down $2.24 per tonne.MB 58% Fe Premium Index: $62.97 per tonne cfr Qingdao, down $1.30 per tonne.MB 65% Fe Iron Ore Index: $90.70 per tonne cfr Qingdao, down $1.90 per tonne.MB 62% Fe China Port Price Index: 582 yuan per wet metric tonne (implied 62% Fe China Port Price $74.43 per dry tonne), down by 1 yuan per wmt.Key driversChina's iron ore futures have corrected after a spike on Wednesday afternoon, and swaps on the Singapore Exchange tumbled on Thursday afternoon.The authorities in north China's steelmaking hub of Tangshan have asked local mills to cut sintering production by 30-100% from 6pm on Thursday until...