Seaborne iron ore prices inched up on Thursday April 9 with data showing that China's steel inventory is being consumed at a faster-than-expected pace and some jitters emanating about Brazilian supply, market participants said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $84.77 per tonne, up $1.13 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $86.20 per tonne, up $1.05 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $73.51 per tonne, up $0.84 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $99.50 per tonne, up $1.10 per tonne.
62% Fe fines, fot Qingdao: 666 yuan per wet metric tonne (
62% Fe China Port Price: $86.41 per dry tonne), up 7 yuan per wmt.
Key drivers
Talk emerged in the market about a potential effect on production and shipments of iron ore from Vale's S11D operations - part of its Northern System operations in Brazil - due to maintenance works scheduled to be undertaken this month.
Fastmarkets had not received a response from Vale regarding the maintenance works at the time of writing.
Market participants were...