Seaborne iron ore prices surged further toward $120 per tonne cfr on Thursday June 20 after two of the major global miners updated shipment expectations.
MB 62% Fe Iron Ore Index: $117.25 per tonne cfr Qingdao, up $3.17 per tonne. MB 62% Fe Pilbara Blend Fines Index: $116.05 per tonne cfr Qingdao, up $3.17 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $118.79 per tonne cfr Qingdao, up $2.98 per tonne. MB 58% Fe Premium Index: $108.20 per tonne cfr Qingdao, up $3.16 per tonne. MB 65% Fe Iron Ore Index: $127.30 per tonne cfr Qingdao, up $2.10 per tonne.MB 62% Fe China Port Price Index: 858 yuan per wet metric tonne (implied 62% Fe China Port Price $114.95 per dry tonne), up 18 yuan per wet metric tonne. MB 63% Fe Australian Lump Premium: $0.3600 per dry metric tonne unit, up $0.0250 per dry metric tonne unit.Key driversRio Tinto said late on Wednesday it had lowered the 2019 shipment guidance for its Pilbara iron ore operations in Western Australia to 320-330 million tonnes...