IRON ORE DAILY: Seaborne iron ore continues uptrend with steel prices

Seaborne iron ore prices remained bullish on Tuesday May 19 with solid increases in steel prices and strong transaction volumes for steel products.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $98.36 per tonne, up by $1.52 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $100.99 per tonne, up by $1.46 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $86.01 per tonne, up by $3.45 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $114.90 per tonne, up by $1.50 per tonne.

62% Fe fines, fot Qingdao: 733 yuan per wet metric tonne (implied 62% Fe China Port Price: $94.85...

Silver outperformance driven by weak supply growth

Supply data still points to major silver deficit this year

Canada second most significant player in global mining M&A

Plenty of potential for continued rotation out of tech

Platinum to palladium ratio low, platinum to gold high, versus history