Seaborne iron ore prices rebounded for a second day on Friday August 23 amid derivatives gains, but market confidence is yet to recover.
Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.81 per tonne, up $3.39 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.19 per tonne, up $3.39 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.57 per tonne, up $3.44 per tonne. 58% Fe fines premium index, cfr Qingdao: $75.56 per tonne, up $2.87 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $95.50 per tonne, up $3.20 per tonne. 62% Fe fines, fot Qingdao: 710 yuan per wet metric tonne (implied 62% Fe China Port Price $92.06 per dry tonne), up 9 yuan per wmt. Key drivers China's iron ore futures continued to advance during the day with the benchmark January contract ending 3.6% higher than the settlement level on Thursday. The September and October iron ore derivatives contracts on the Singapore Exchange also bounced up further to Tuesday's levels, ahead of the Wednesday plunge. Miners continued to...