Physical iron ore prices were rangebound on Monday May 6 amid limited trading activity in the wake of further trade uncertainties between China and the United States, as well as the start of steelmaking restrictions in Tangshan.
MB 62% Fe Iron Ore Index: $94.34 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.37 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.97 per tonne cfr Qingdao, down $0.30 per tonne. MB 58% Fe Premium Index: $85.48 per tonne cfr Qingdao, down $1.18 per tonne. MB 65% Fe Iron Ore Index: $109.60 per tonne cfr Qingdao, down $0.20 per tonne.MB 62% Fe China Port Price Index: 676 yuan per wet metric tonne (implied 62% Fe China Port Price $91.96 per dry tonne), down 7 yuan per wet metric tonne.Key driversA threat by US President Donald Trump about plans to raise tariffs on $200 billion worth of Chinese imports from 10% to 25% affected investor sentiment on Monday, with iron ore futures opening lower than the previous trading day settlement price.Trump tweeted on Sunday that...