Activity in the seaborne iron ore market picked up on Tuesday September 10 and prices continued to strengthen.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.22 per tonne, up $0.25 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.61 per tonne, up $0.25 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.03 per tonne, up $0.73 per tonne.58% Fe fines premium index, cfr Qingdao: $80.18 per tonne, down $0.29 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $99.50 per tonne, up $0.60 per tonne.62% Fe fines, fot Qingdao: 754 yuan per wet metric tonne (implied 62% Fe China Port Price, $97.42 per dry tonne), up 7 yuan per wmt.63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1200 per dry metric tonne unit, up $0.0200 per dry metric tonne unit.Key driversChina's rebar and hot-rolled coil futures corrected down on Tuesday after big gains on Monday, while the benchmark iron ore contract managed to recover intraday losses before the 3pm close.Spot iron ore prices at Chinese ports firmed up, especially after the futures close, according to sources.Trading in...