Seaborne iron ore prices were largely stable on Monday May 11 amid slower port trading activity, while the market saw a solid premium for June delivery cargoes and good demand from Chinese mills.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.61 per tonne, up $0.01 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $91.18 per tonne, up $0.26 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $76.41 per tonne, down $0.37 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $106 per tonne, unchanged.
62% Fe fines, fot Qingdao: 683 yuan per wet metric tonne (implied
62% Fe China Port Price: $88.58 per dry tonne), unchanged.
Key drivers
Buying activity at ports in China was slower after...