Iron ore prices were rangebound on Friday June 21 with more concerns raised over the profit margins of Chinese steelmakers.
MB 62% Fe Iron Ore Index: $116.98 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.78 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $118.46 per tonne cfr Qingdao, down $0.33 per tonne. MB 58% Fe Premium Index: $107.76 per tonne cfr Qingdao, down $0.44 per tonne. MB 65% Fe Iron Ore Index: $127.80 per tonne cfr Qingdao, up $0.50 per tonne.MB 62% Fe China Port Price Index: 856 yuan per wet metric tonne (implied 62% Fe China Port Price $115.29 per dry tonne), down 2 yuan per wmt.Key driversChina's iron ore futures largely trended downward during the day before a moderate recovery for the benchmark September contract in the afternoon. The July and August 62% Fe derivative contracts on the Singapore Exchange recorded similar movements.Weekly industry data released by a local data provider show the...