Physical iron ore prices advanced on Monday April 29 amid gains in China's futures market.
MB 62% Fe Iron Ore Index: $94.05 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.83 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.10 per tonne cfr Qingdao, up $1.07 per tonne. MB 58% Fe Premium Index: $84.64 per tonne cfr Qingdao, up $0.02 per tonne. MB 65% Fe Iron Ore Index: $109.30 per tonne cfr Qingdao, up $1.90 per tonne.MB 62% Fe China Port Price Index: 683 yuan per wet metric tonne (implied 62% Fe China Port Price $93.05 per dry tonne), up 8 yuan per wmt.Key driversChina's ferrous futures picked up across the board during the day, with the benchmark iron ore contract leading gains to end 2.3% higher than the last Friday's settlement level.The country's hot-rolled coil prices also rose 20 yuan ($3) per tonne from last Friday.Chinese steelmakers continued to restock...