Physical iron ore prices were rangebound on Thursday April 25 while futures transactions rose early in the day and fell later, to end moderately lower overall.
MB 62% Fe Iron Ore Index: $93.50 per tonne cfr Qingdao, down by $0.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.28 per tonne cfr Qingdao, down by $0.05 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $95.98 per tonne cfr Qingdao, up by $0.04 per tonne.MB 58% Fe Premium Index: $83.86 per tonne cfr Qingdao, up by $0.16 per tonne.MB 65% Fe Iron Ore Index: $107.40 per tonne cfr Qingdao, down by $0.10 per tonne.MB 62% Fe China Port Price Index: 675 yuan per wet metric tonne (implied 62% Fe China Port Price $92.05 per dry tonne), down by 2 yuan per wmt.Key driversChina's benchmark ferrous futures contracts all advanced during Thursday morning trading, then retreated in the afternoon, ending below the settlement levels seen a day earlier.Market participants attributed the afternoon drop to a set of industry data released by a local data provider, showing that steel...