Iron ore prices strengthened on Monday March 18 due to increasing uncertainty over Vale supplies from Brazil, although the impact was offset by further production restrictions on steelmakers in China's Tangshan region.
MB 62% Fe Iron Ore Index: $88.26 per tonne cfr Qingdao, up $1.74 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.38 per tonne cfr Qingdao, up $1.74 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $90.20 per tonne cfr Qingdao, up $1.17 per tonne. MB 58% Fe Premium Index: $78.99 per tonne cfr Qingdao, up $1.61 per tonne. MB 65% Fe Iron Ore Index: $98 per tonne cfr Qingdao, up $0.50 per tonne. MB 62% Fe China Port Price Index: 647 yuan per wet metric tonne (implied 62% Fe China Port Price $85.81 per dry tonne), up 14 yuan per wmt.Key driversOn Saturday, Brazilian miner Vale said there could be a shortfall of 12.8 million tonnes per year in iron ore output due to the suspension of the Timbopeba mine in Minas Gerais state after a local court decision halted operations related to the Doutor dam.China's iron ore futures responded...