Seaborne iron ore prices increased on Monday September 23 following steel market gains, amid speculation there will be further restrictions on steelmaking in China.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.12 per tonne, up $1.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $94.51 per tonne, up $1.56 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.38 per tonne, up $0.60 per tonne.58% Fe fines high-premium, cfr Qingdao: $81.85 per tonne, up $1.49 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $100.70 per tonne, up $1.70 per tonne.62% Fe fines, fot Qingdao: 759 yuan per wet metric tonne (implied 62% Fe China Port Price, $98.47 per dry tonne), down 1 yuan per wmt.63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1700 per dry metric tonne unit, up $0.0150 per dmtu.Key driversSome updates on steelmaking restrictions were reported from north China's steel hub of Tangshan over the past weekend, including a sintering production cut of at least 50% except for coastal mills on September 22-27, and a suspension of trucking at the two ports in the city from 8pm on September 22 to 8pm...