The physical iron ore market stayed rangebound while steel prices rose on Tuesday July 10 amid more concerns over potential restrictions on blast furnaces in China's steelmaking hub.
Metal Bulletin 62% Fe Iron Ore Index: $63.91 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.82 per tonne cfr Qingdao, up $0.21 per tonneMetal Bulletin 58% Fe Premium Index: $51.80 per tonne cfr Qingdao, up $0.37 per tonneMetal Bulletin 65% Fe Iron Ore Index: $91 per tonne cfr Qingdao, down $0.30 per tonneMetal Bulletin 62% Fe China Port Price Index: 466 yuan per wet metric tonne (implied 62% Fe China Port Price $61.49 per dry tonne), down 2 yuan per wmtKey driversTalks started on Monday about more potential restrictions to be carried out on steelmaking operations in northern China's Tangshan city to further cut emissions, and a draft plan was circulated among market participants on Tuesday.The planned measures include a 50% cut of sintering and pellet production...