Seaborne iron ore prices stayed above $90 per tonne on Thursday May 14, supported by improving production levels and decreasing steel inventories in China, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $92.17 per tonne, up $0.54 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $94.50 per tonne, up $0.14 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $78.38 per tonne, down $0.50 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $108.60 per tonne, up $0.50 per tonne.
62% Fe fines, fot Qingdao: 695 yuan per wet metric tonne (
implied 62% Fe China Port Price: $89.96 per dry tonne), up 6 yuan per wmt.
Key drivers
Steel production...