Iron ore prices weakened on Monday June 24 amid worries new restrictions on blast furnaces in China's steel hub will dent demand for the steelmaking raw material.
MB 62% Fe Iron Ore Index: $116.77 per tonne cfr Qingdao, down $0.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.57 per tonne cfr Qingdao, down $0.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $117.78 per tonne cfr Qingdao, down $0.68 per tonne. MB 58% Fe Premium Index: $107.42 per tonne cfr Qingdao, down $0.34 per tonne. MB 65% Fe Iron Ore Index: $127 per tonne cfr Qingdao, down $0.80 per tonne. MB 62% Fe China Port Price Index: 853 yuan per wet metric tonne (implied 62% Fe China Port Price $114.78 per dry tonne), down 3 yuan per wet metric tonne. Key drivers Local authorities in north China's Tangshan city released a document over the weekend demanding all local steelmakers cut production of sintering, pelletizing, blast furnace and basic oxygen furnace facilities by at least 50%, except for six mills that were asked to trim...