Physical iron ore prices dropped back on Monday June 17 after staying above $110 per tonne cfr last Thursday and Friday, but premiums remained robust for Pilbara Blend fines.
MB 62% Fe Iron Ore Index: $108.21 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Pilbara Blend Fines Index: $107.01 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $110.75 per tonne cfr Qingdao, down $3.46 per tonne. MB 58% Fe Premium Index: $99.67 per tonne cfr Qingdao, down $2.07 per tonne. MB 65% Fe Iron Ore Index: $122.20 per tonne cfr Qingdao, down $1.50 per tonne.MB 62% Fe China Port Price Index: 817 yuan per wet metric tonne (implied 62% Fe China Port Price $108.88 per dry tonne), down 10 yuan per wmt tonne.Key driversChina's Dalian Commodity Exchange announced late last Friday that it will be raising the daily trading limit from 6% to 8% and the minimum trading margin from 8% to 10% for the September iron ore futures contract from settlement on Tuesday June 18.These are understood to be measures to cool...