Seaborne iron ore prices dipped on Thursday May 30 following losses in the futures and steel markets, and amid concerns over narrower profit margins at Chinese steelmakers.
MB 62% Fe Iron Ore Index: $103.87 per tonne cfr Qingdao, down by $2.31 per tonne.MB 62% Fe Pilbara Blend Fines Index: $102.35 per tonne cfr Qingdao, down by $2.31 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $107.66 per tonne cfr Qingdao, down by $2.47 per tonne.MB 58% Fe Premium Index: $95.83 per tonne cfr Qingdao, down by $2.16 per tonne.MB 65% Fe Iron Ore Index: $119.00 per tonne cfr Qingdao, down by $2.20 per tonne.MB 62% Fe China Port Price Index: 769 yuan per wet metric tonne (implied 62% Fe China Port Price $102.51 per dry tonne), up by 4 yuan per wmt.Key driversChina's steel and iron ore futures showed brief gains on Thursday morning before a sharp drop into negative figures. Steel contracts retreated further in the afternoon while iron...