Seaborne iron ore prices bounced up on Thursday August 22 after a major plunge to almost a seven-month low a day earlier.
Fastmarkets indicesIron ore 62% Fe fines, cfr Qingdao: $84.42 per tonne, up by $2.04 per tonne. Iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $84.80 per tonne, up by $2.04 per tonne. Iron ore 62% Fe low-alumina fines, cfr Qingdao: $83.13 per tonne, up by $2.56 per tonne. Iron ore 58% Fe fines high-grade premium index, cfr Qingdao: $72.69 per tonne, up by $1.27 per tonne. Iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $92.30 per tonne, up by $0.70 per tonne.Iron ore 62% Fe fines, fot Qingdao: 701 yuan per wet metric tonne (implied 62% Fe China Port Price $91.13 per dry tonne), down 10 yuan per wmt. Key driversChina's steel and iron ore futures recorded rangebound movement on Wednesday night and Thursday morning, but rallied in the afternoon following the release of industry data that showed domestic steel production and inventories largely continued to decline.The benchmark January...