The seaborne iron ore market witnessed large price increases on Friday May 8 amid high prices in swap contracts and a general upturn seen on commodities such as rebar and copper.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.60 per tonne, up $4.25 per tonne 62% Fe low-alumina fines, cfr Qingdao: $90.92 per tonne, up $4.68 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $76.78 per tonne, up $3.97 per tonne 65% Fe Brazil-origin fines, cfr Qingdao: $106 per tonne, up $3.70 per tonne 62% Fe fines, fot Qingdao: 683 yuan per wet metric tonne
(implied 62% Fe China Port Price: $88.31 per dry tonne), up 4 yuan per wmt.
Key drivers
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