Seaborne iron ore prices fell back on Wednesday May 8, following a downturn in both the futures and steel markets.
MB 62% Fe Iron Ore Index: $95.57 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.25 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.29 per tonne cfr Qingdao, down $0.57 per tonne. MB 58% Fe Premium Index: $86.15 per tonne cfr Qingdao, down $0.21 per tonne. MB 65% Fe Iron Ore Index: $109.80 per tonne cfr Qingdao, down $0.60 per tonne.MB 62% Fe China Port Price Index: 684 yuan per wet metric tonne (implied 62% Fe China Port Price $92.58 per dry tonne), down 5 yuan per wmt.Key driversChina's steel and iron ore futures retreated on Wednesday afternoon, while the spot rebar...