Seaborne iron ore prices nudged up on Thursday February 14 with traders heard taking cargoes, although buying from Chinese mills remained limited.
MB 62% Fe Iron Ore Index: $88.32 per tonne cfr Qingdao, up $1.10 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.71 per tonne cfr Qingdao, down $0.35 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.61 per tonne cfr Qingdao, down $0.03 per tonne. MB 58% Fe Premium Index: $81.33 per tonne cfr Qingdao, down $0.39 per tonne. MB 65% Fe Iron Ore Index: $99.90 per tonne cfr Qingdao, up $0.40 per tonne. MB 62% Fe China Port Price Index: 657 yuan per wet metric tonne (implied 62% Fe China Port Price $86.51 per dry tonne), down 2 yuan per wmt.Key driversChina's iron ore futures and the 62% Fe iron ore swaps on the Singapore Exchange mostly advanced during the day, possibly related to rumors that Vale has declared force majeure to some Chinese mills...