Seaborne iron ore prices went up on Friday January 18 with Chinese steel mills stockpiling material ahead of the upcoming Chinese new year holiday.
MB 62% Fe Iron Ore Index: $75.70 per tonne cfr Qingdao, up by $1.15 per tonne.MB 62% Fe Pilbara Blend Fines Index: $76.54 per tonne cfr Qingdao, up by $1.34 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.88 per tonne cfr Qingdao, up by $0.96 per tonne.MB 58% Fe Premium Index: $67.79 per tonne cfr Qingdao, up by $0.28 per tonne.MB 65% Fe Iron Ore Index: $89.30 per tonne cfr Qingdao, up by $1.20 per tonne.MB 62% Fe China Port Price Index: 566 yuan per wet metric tonne (implied 62% Fe China Port Price $73.97 per dry tonne), up by 1 yuan per wet metric tonne.MB 63% Fe Australian Lump Premium: $0.3850 per dry metric tonne unit, up by $0.015 per dry metric tonne unit.Key driversA seaborne shipment of 61% Fe Pilbara Blend fines changed hands at a 62% Fe equivalent of $75.54 per tonne cfr China on Friday.This...