Iron ore prices advanced on Monday December 2 amid news of less stringent restrictions on steelmakers in China's steel hub of Tangshan.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.45 per tonne, up $0.99 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $87.54 per tonne, up $0.99 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $88.32 per tonne, up $1.46 per tonne.
58% Fe fines high-premium, cfr Qingdao: $78.39 per tonne, up $0.95 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $100 per tonne, up $0.80 per tonne.
62% Fe fines, fot Qingdao: 655 yuan per wet metric tonne (implied
62% Fe China Port Price, $85.29 per dry tonne), down 4 yuan per wet metric tonne.
Key drivers
China's steel and iron ore futures generally trended upward during the day, with the latter presenting a spike in the last 15 mintues before the 3pm close.
A document issued by local authorities in...