Physical iron ore prices continued to advance on Monday January 21 after exceeding $75 per tonne cfr last Friday, following gains in the futures and rebar markets.
MB 62% Fe Iron Ore Index: $75.90 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Pilbara Blend Fines Index: $76.74 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $77.14 per tonne cfr Qingdao, up $0.26 per tonne. MB 58% Fe Premium Index: $68.59 per tonne cfr Qingdao, up $0.80 per tonne. MB 65% Fe Iron Ore Index: $90 per tonne cfr Qingdao, up $0.70 per tonne. MB 62% Fe China Port Price Index: 572 yuan per wet metric tonne (implied 62% Fe China Port Price $74.54 per dry tonne), up 6 yuan per wet metric tonne.Key driversChina's rebar and iron ore futures rose further last Friday night and stayed range bound on Monday, while the country's spot price for rebar picked up...