Seaborne iron ore prices continued to drop toward the $70-per-tonne-cfr mark on Friday November 23 amid plunges in the futures and steel markets.
MB 62% Fe Iron Ore Index: $70.13 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $69.32 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $73.07 per tonne cfr Qingdao, down $2.75 per tonne.MB 58% Fe Premium Index: $63.20 per tonne cfr Qingdao, up $0.23 per tonne.MB 65% Fe Iron Ore Index: $88.90 per tonne cfr Qingdao, down $1.80 per tonne.MB 62% Fe China Port Price Index: 564 yuan per wet metric tonne (implied 62% Fe China Port Price $71.85 per dry tonne), down by 18 yuan per wmt.Key driversChina's ferrous futures fell further across the board during the day, with the benchmark iron ore contract falling by 4.6% from the previous day's settlement to end below 500 yuan per tonne.The sentiment-driving...