Limited availability pushed iron ore prices up on Wednesday October 24 amid a bullish futures market.
MB 62% Fe Iron Ore Index: $74.73 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.76 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80 per tonne cfr Qingdao, up by $1.30 per tonne.MB 58% Fe Premium Index: $67.77 per tonne cfr Qingdao, up by $2.92 per tonne.MB 65% Fe Iron Ore Index: $98.20 per tonne cfr Qingdao, up by $0.50 per tonne.MB 62% Fe China Port Price Index: 573 yuan per wet metric tonne (implied 62% Fe China Port Price $73.20 per dry tonne), up 5 yuan per wmt.Key driversChina's ferrous futures trended upward across the board during the day, with the benchmark iron ore contract surging in the afternoon to post the biggest gain of 2.7% compared with its settlement price on Tuesday.A few market participants attributed the strength to a tight supply of...