Seaborne iron ore prices rose on Friday November 16, amid a likely shortage in the supply of Australian fines.
MB 62% Fe Iron Ore Index: $75.31 per tonne cfr Qingdao, up $0.38 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.11 per tonne cfr Qingdao, up $0.38 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.40 per tonne cfr Qingdao, up $0.43 per tonne.MB 58% Fe Premium Index: $64.73 per tonne cfr Qingdao, unchanged.MB 65% Fe Iron Ore Index: $94.40 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe China Port Price Index: 589 yuan per wet metric tonne (implied 62% Fe China Port Price $75.23 per dry tonne), up by 9 yuan per wmt. Key driversMarket participants are still holding a 'wait-and-see' stance, with some mill sources remaining cautious toward sintering and blast furnace restrictions in north China while spot market trading remained limited.Australian fines are still facing a shortage in the market, which had likely prompted the price increase reflected...