Seaborne iron ore prices pushed up again on Monday July 1, with gains also seen in the downstream sector in China.
MB 62% Fe Iron Ore Index: $123.65 per tonne cfr Qingdao, up $5.18 per tonne. MB 62% Fe Pilbara Blend Fines Index: $121.69 per tonne cfr Qingdao, up $5.18 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $125.76 per tonne cfr Qingdao, up $6.12 per tonne. MB 58% Fe Premium Index: $113.67 per tonne cfr Qingdao, up $4.56 per tonne. MB 65% Fe Iron Ore Index: $131.50 per tonne cfr Qingdao, up $3.40 per tonne.MB 62% Fe China Port Price Index: 884 yuan per wet metric tonne (implied 62% Fe China Port Price $119.11 per dry tonne), up 20 yuan per wmt. Key driversTrading activity involving the 65% Fe iron ore derivative contract remained robust, with 250,000 tonnes traded and cleared by 6.40pm on Monday July 1. Meanwhile, positive developments in the trade talks between China and the United States gave the steel market a boost. US president Donald Trump...