Seaborne iron ore prices went down on Tuesday April 7 from the levels seen at the end of last week, but high-grade ore performed well in portside trading. The Chinese markets had been closed on Monday for the Qingming Festival holiday.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $82.73 per tonne, down by $0.57 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $84.11 per tonne, down by $0.31 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $71.54 per tonne, down by $0.51 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $97.30 per tonne, down by $0.40 per tonne.
62% Fe fines, fot Qingdao: 650 yuan per wet metric tonne (
62% Fe China Port Price: $83.86 per dry tonne), down by 9 yuan per wmt.
Key drivers
A trader source in China said that low stocks of Brazilian high-grade iron ore Carajas fines (IOCJ) at Chinese ports, and associated high transaction prices for the brand...