Seaborne iron ore prices retreated on Tuesday November 20 amid weakness in the steel and ferrous futures markets.
MB 62% Fe Iron Ore Index: $74.65 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.84 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.22 per tonne cfr Qingdao, down $0.58 per tonne.MB 58% Fe Premium Index: $64.34 per tonne cfr Qingdao, down $0.77 per tonne.MB 65% Fe Iron Ore Index: $92.60 per tonne cfr Qingdao, down by $0.40 per tonne.MB 62% Fe China Port Price Index: 591 yuan per wet metric tonne (implied 62% Fe China Port Price $75.54 per dry tonne), unchanged.Key driversChina's ferrous futures tumbled across the board during the day, while the key billet price in Tangshan also plunged 130 yuan ($18.70) per tonne late in the afternoon.Iron...