Seaborne iron ore prices were largely steady on Wednesday April 15 amid robust port prices and expectations of improving margins for Chinese mills, and despite persistent supply jitters.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $86.86 per tonne, down by $0.16 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $88.48 per tonne, down by $0.26 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $75.73 per tonne, up by $0.76 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $102.90 per tonne, up by $0.70 per tonne.
62% Fe fines, fot Qingdao: 679 yuan per wet metric tonne (
implied 62% Fe China Port Price: $88.24 per dry tonne), up by 3 yuan per wmt.
Key drivers
Some market sources said that the supply of Brazilian materials was still constrained and uncertain on account of the adverse weather in the country, and the...