Seaborne iron ore prices continued to strengthen on Tuesday May 21 after exceeding $100 per tonne cfr last Friday, thanks to gains in the futures and spot steel markets.
MB 62% Fe Iron Ore Index: $102.03 per tonne cfr Qingdao, up by $0.32 per tonne.MB 62% Fe Pilbara Blend Fines Index: $100.22 per tonne cfr Qingdao, up by $0.32 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $105.76 per tonne cfr Qingdao, up by $1.28 per tonne.MB 58% Fe Premium Index: $92.88 per tonne cfr Qingdao, up by $0.76 per tonne.MB 65% Fe Iron Ore Index: $116.70 per tonne cfr Qingdao, up by $1.10 per tonne.MB 62% Fe China Port Price Index: 721 yuan per wet metric tonne (implied 62% Fe China Port Price $95.84 per dry tonne), up by 5 yuan per wmt.Key driversChina's ferrous futures advanced across the board with the benchmark coke and steel contracts leading the march, increasing by 3.2-5.2% from the preceding day's settlement levels. The most-liquid iron ore contract...