Seaborne iron ore prices increased rapidly on Friday May 29 on growing concerns over supplies from Brazil.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $102.39 per tonne, up $5.30 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $105 per tonne, up $6.11 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $87.30 per tonne, up $1.76 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $115.3 per tonne, up $3.30 per tonne.
62% Fe fines, fot Qingdao: 765 yuan per wet metric tonne (
implied 62% Fe China Port Price: $98.48 per dry tonne), up 23 yuan per wmt.
Key drivers
Sources said they had heard of hundreds of Covid-19 infections at Vale's mines in Itabira, in the southern state of Minas Gerais.
According to local media reports, however, while operations at Vale's three Itabira mines were subject to...