Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne.58% Fe fines high-premium, cfr Qingdao: $76.70 per tonne, up $0.33 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $95.40 per tonne, up $0.40 per tonne. 62% Fe fines, fot Qingdao: 685 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.71 per dry tonne), up 9 yuan per wet metric tonne.Key driversChinese benchmark January iron ore futures rallied during the Tuesday night trading session, rising more than 2%, but stayed rangebound for the Wednesday trading session, ending about 1% higher compared with the previous day's price.Some futures analysts based in Singapore said the initial spike during night trading may have been down to...