Seaborne iron ore prices rose on Tuesday December 4 amid gains in the futures and swaps markets, as well as a sharp uptick in the yuan's value against the US dollar.
MB 62% Fe Iron Ore Index: $67.16 per tonne cfr Qingdao, up by $0.78 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.43 per tonne cfr Qingdao, up by $0.78 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.40 per tonne cfr Qingdao, up by $0.84 per tonne.MB 58% Fe Premium Index: $56.61 per tonne cfr Qingdao, up by $0.92 per tonne.MB 65% Fe Iron Ore Index: $83 per tonne cfr Qingdao, up by $0.10 per tonne.MB 62% Fe China Port Price Index: 540 yuan per wet metric tonne (implied 62% Fe China Port Price $69.72 per dry tonne), up by 5 yuan per wmt.Key driversChina's ferrous futures advanced on Tuesday afternoon after a soft performance earlier in the day, while the iron ore swaps prices on the Singapore Exchange also rose.The value of the US dollar against the Chinese yuan has rapidly depreciated from around 6.96 to 6.84 in...