Iron ore prices were mixed on Wednesday November 14 with supply tightness and higher premiums reported for December-arrival Pilbara Blend fines.
MB 62% Fe Iron Ore Index: $75.91 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.71 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.25 per tonne cfr Qingdao, up $0.53 per tonne.MB 58% Fe Premium Index: $64.71 per tonne cfr Qingdao, down by $0.12 per tonne.MB 65% Fe Iron Ore Index: $94.40 per tonne cfr Qingdao, down by $1 per tonne.MB 62% Fe China Port Price Index: 584 yuan per wet metric tonne (implied 62% Fe China Port Price $74.40 per dry tonne), down by 7 yuan per wmt.Key driversAn index-linked Capesize shipment of Pilbara Blend fines with laycan in early December changed hands at a premium of $3.75 per tonne on a platform on Wednesday afternoon.The high premium, compared with market assessments of $2.50-3 per tonne for December-arrival cargoes of the product, took participants by surprise....