Iron ore prices rose then fell back again on Wednesday May 29, while the 65% Fe derivative traded actively.
MB 62% Fe Iron Ore Index: $106.18 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Pilbara Blend Fines Index: $104.66 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $110.13 per tonne cfr Qingdao, up by $0.61 per tonne.MB 58% Fe Premium Index: $97.99 per tonne cfr Qingdao, up by $0.17 per tonne.MB 65% Fe Iron Ore Index: $121.20 per tonne cfr Qingdao, down by $0.40 per tonne.MB 62% Fe China Port Price Index: 765 yuan per wet metric tonne (implied 62% Fe China Port Price $102.05 per dry tonne), down by 14 yuan per wmt.Key driversChina's iron ore futures have retreated further since Tuesday night, but they picked up in the last trading hour on Wednesday to recover some losses.The closure of the earlier long position remained the biggest contributor to the price decline, sources said. This could be...