Seaborne iron ore prices strengthened on Tuesday October 15 thanks to gains in the derivatives markets.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93 per tonne, up by $1.51 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.04 per tonne, up by $0.01 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.60 per tonne, up by $1.43 per tonne.58% Fe fines high-premium, cfr Qingdao: $80.98 per tonne, up by $1.55 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $98.90 per tonne, up by $1.90 per tonne.62% Fe fines, fot Qingdao: 732 yuan per wet metric tonne (implied 62% Fe China Port Price, $95.25 per dry tonne), down by 9 yuan per wet metric tonne.Key driversChina's steel and iron ore futures have been largely weak since late on Monday, but they ticked up in the final 15 minutes before Tuesday's 3pm close. The benchmark iron ore contract ended higher than the close a day earlier.Following that development, iron ore derivatives on the Singapore Exchange...