The prices for seaborne iron ore went down on Tuesday May 26 with market sources saying that Brazilian miner Vale's weekly iron ore shipments increased, easing market concerns about supply.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $95.28 per tonne, down by $2.37 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $97.97 per tonne, down by $2.31 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $82.94 per tonne, down by $2.21 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $110.10 per tonne, down by $3 per tonne.
62% Fe fines, fot Qingdao: 737 yuan per wet metric tonne (
implied 62% Fe China Port Price: $95.02 per dry tonne), down by 15 yuan per wmt.
Key drivers
Market sources said that iron ore shipments from Vale last week will have eased some of the concerns about supplies from Brazil that would have arisen from the...