Seaborne iron ore prices surged across the board on Monday February 11 when trading resumed in China after a week-long public holiday.
MB 62% Fe Iron Ore Index: $90.58 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Pilbara Blend Fines Index: $91.42 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $92.50 per tonne cfr Qingdao, up $5.18 per tonne. MB 58% Fe Premium Index: $81.38 per tonne cfr Qingdao, up $2.64 per tonne. MB 65% Fe Iron Ore Index: $102.50 per tonne cfr Qingdao, down $0.80 per tonne. MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $90.23 per dry tonne), up 69 yuan per wet metric tonne. Key drivers The Chinese market returned to trading after a week-long break for the Lunar New Year festival. The MB 62% Fe Iron Ore Index breached the $90 per tonne cfr mark...