Seaborne iron ore prices picked up on Wednesday May 15 following gains in China's futures market, and amid concerns that BHP's mine maintenance could affect supply at a later date.
MB 62% Fe Iron Ore Index: $96.95 per tonne cfr Qingdao, up by $2.61 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.63 per tonne cfr Qingdao, up by $2.61 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.53 per tonne cfr Qingdao, up by $0.97 per tonne.MB 58% Fe Premium Index: $85.64 per tonne cfr Qingdao, down by $0.36 per tonne.MB 65% Fe Iron Ore Index: $112.10 per tonne cfr Qingdao, up by $2.70 per tonne.MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $91.57 per dry tonne), up by 4 yuan per wmt.Key driversAustralian miner BHP has told its customers that it will conduct equipment maintenance in the first half of July, which will probably delay shipments of its 62.4% Fe Newman fines, according to sources.Some market participants told Fastmarkets late last month about the overhauls affecting Newman...