Physical iron ore prices plummeted on Monday November 26 following a slump in futures and steel markets, with Chinese steelmakers fearing losses.
MB 62% Fe Iron Ore Index: $64.25 per tonne cfr Qingdao, down $5.88 per tonne. MB 62% Fe Pilbara Blend Fines Index: $63.52 per tonne cfr Qingdao, down $5.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $68.97 per tonne cfr Qingdao, down $4.10 per tonne. MB 58% Fe Premium Index: $56.72 per tonne cfr Qingdao, down $6.48 per tonne. MB 65% Fe Iron Ore Index: $81 per tonne cfr Qingdao, down $7.90 per tonne. MB 62% Fe China Port Price Index: 539 yuan per wet metric tonne (implied 62% Fe China Port Price $68.61 per dry tonne), down by 25 yuan per wmt. Key drivers China's benchmark January iron ore futures contract plunged to the daily trading limit within 15 minutes after open on Monday morning...