Iron ore prices weakened on Wednesday November 7 amid steel market falls, while supply issues in Australia supported premiums for index-linked cargoes.
MB 62% Fe Iron Ore Index: $75.27 per tonne cfr Qingdao, down $0.47 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.30 per tonne cfr Qingdao, down $0.47 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.38 per tonne cfr Qingdao, down $0.92 per tonne.MB 58% Fe Premium Index: $66.82 per tonne cfr Qingdao, down by $0.10 per tonne.MB 65% Fe Iron Ore Index: $96.80 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe China Port Price Index: 591 yuan per wet metric tonne (implied 62% Fe China Port Price $75.87 per dry tonne), up by 5 yuan per wmt. Key driversChina's steel futures retreated for a second day while spot prices also dropped, with rebar down 40-90 yuan ($5.80-13) per tonne and hot-rolled coil down 10-30 yuan per tonne.Physical iron ore trading slowed down with limited buying interest at Chinese...