IRON ORE DAILY: Dwindling port inventory supports rise in seaborne prices

Seaborne iron ore prices were up across the board on Tuesday May 18, supported by falling stock levels at Chinese ports.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $224.44 per tonne, up $6.67 per tonne
62% Fe low-alumina fines, cfr Qingdao: $227.77 per tonne, up $6.97 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $192.70 per tonne, up $6.05 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $258.70 per tonne, up $9.40 per tonne
62% Fe fines, fot Qingdao: 1,574 yuan per wet metric tonne (implied 62% Fe China Port Price: $229.42 per dry tonne), up by 26 yuan per wmt