Physical iron ore prices were rangebound on Thursday May 6, while the futures market experienced choppy trading.
MB 62% Fe Iron Ore Index: $100.60 per tonne cfr Qingdao, up $0.22 per tonne. MB 62% Fe Pilbara Blend Fines Index: $99.40 per tonne cfr Qingdao, up $0.54 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $104.04 per tonne cfr Qingdao, down $0.46 per tonne. MB 58% Fe Premium Index: $90.86 per tonne cfr Qingdao, down $3.56 per tonne. MB 65% Fe Iron Ore Index: $115.30 per tonne cfr Qingdao, down $0.10 per tonne.MB 62% Fe China Port Price Index: 760 yuan per wet metric tonne (implied 62% Fe China Port Price $101.27 per dry tonne), down 3 yuan per wmt.Key driversChina's steel and iron ore futures all retreated on Thursday morning before rebounding through the rest of the day to recover most of the losses. The benchmark iron ore contract ended 0.8%...