Physical iron ore prices weakened amid thin trading on Monday November 12 following drops in the steel market and news that BHP has resumed rail operations after last week's incident in Australia.
MB 62% Fe Iron Ore Index: $76.05 per tonne cfr Qingdao, down $1.15 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.85 per tonne cfr Qingdao, down $1.15 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.78 per tonne cfr Qingdao, down $1.01 per tonne.MB 58% Fe Premium Index: $66.69 per tonne cfr Qingdao, down $0.64 per tonne.MB 65% Fe Iron Ore Index: $96.30 per tonne cfr Qingdao, down $0.90 per tonne.MB 62% Fe China Port Price Index: 597 yuan per wet metric tonne (implied 62% Fe China Port Price $76.11 per dry tonne), down 2 yuan per wmt. Key driversBHP's rail operations between its Western Australia iron ore mines and Port Hedland restarted on Saturday night after the train derailment on Monday November 5, with iron ore shipments "largely recovered", sources told Fastmarkets on Monday November 12.The disruption to the miner's transportation operations could translate to a shipment...