Seaborne iron ore prices eased in the week to 30 June, following a surge of around $3.50/t on 27 June, but prices dropped thereafter amid worries that Beijing may take further steps to control imported iron ore prices. The McCloskey daily assessment of 62 Fe iron ore fines was at $111.71/t on 30 June, down by $0.98/t on the week. Seaborne iron ore trading picked up last week as the implied import margin of selling seaborne cargoes in the yuan-based cash-and-carry portside markets turned positive, especially for medium grade fines such as Pilbara Blend Fines (PBF) and MACF. Both traders and mills were active in booking seaborne cargoes recently.
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