Seaborne iron ore prices softened on Monday May 13 amid weaker steel markets and an appreciation of the United States dollar against the Chinese yuan.
MB 62% Fe Iron Ore Index: $96.10 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.78 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $99.92 per tonne cfr Qingdao, down $0.58 per tonne. MB 58% Fe Premium Index: $86.61 per tonne cfr Qingdao, up $0.01 per tonne. MB 65% Fe Iron Ore Index: $111.40 per tonne cfr Qingdao, down $0.10 per tonne.MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $92.23 per dry tonne), up 2 yuan per wet metric tonne.Key driversChina's rebar and hot-rolled coil futures prices retreated at the start of the week, while domestic spot market prices fell by 10-20 yuan ($1.50-2.90) per tonne.Seaborne iron ore trading was not very active over the day, with...