Iron ore prices corrected on Tuesday March 5 despite the addition of further production restrictions for steelmakers in China, sources told Fastmarkets.
MB 62% Fe Iron Ore Index: $87.03 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.43 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.20 per tonne cfr Qingdao, down $0.68 per tonne. MB 58% Fe Premium Index: $75.78 per tonne cfr Qingdao, down $0.33 per tonne. MB 65% Fe Iron Ore Index: $98.90 per tonne cfr Qingdao, up $0.70 per tonne. MB 62% Fe China Port Price Index: 636 yuan per wet metric tonne (implied 62% Fe China Port Price $84.43 per dry tonne), down 9 yuan per wet metric tonne.Key driversThe local authority in north China's Wu'an city in Hebei Province, has announced an off-peak production plan for 14 local mills, to run from March 3 to March 31, according to sources.The plan adds to restrictions already...