Iron ore prices largely picked up on Monday November 19, apart from those for higher grades, leading to a further narrowing of the spread between 65% Fe and 62% Fe indices.
MB 62% Fe Iron Ore Index: $76.11 per tonne cfr Qingdao, up $0.80 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.30 per tonne cfr Qingdao, up $0.19 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.80 per tonne cfr Qingdao, up $1.40 per tonne.MB 58% Fe Premium Index: $65.11 per tonne cfr Qingdao, up $0.38 per tonne.MB 65% Fe Iron Ore Index: $93 per tonne cfr Qingdao, down by $1.40 per tonne.MB 62% Fe China Port Price Index: 591 yuan per wet metric tonne (implied 62% Fe China Port Price $75.46 per dry tonne), up by 2 yuan per wmt. Key driversWhile mainstream 62% Fe iron ore fines traded at steady or stronger prices at Chinese ports and in the seaborne market on Monday, a seaborne cargo of 65% Fe Iron Ore Carajas changed hands at $93 per tonne cfr China, a weaker level than last week.The price looks...