It is important to note, however, that this uptrend has been
more pronounced in scrap and metallic prices, as opposed to
iron ore benchmarks.
Metal Bulletin’s Iron Ore Index for 62% material
cfr Qingdao has increased on average by just over $3/tonne
through the past month, to close to $60/tonne average for April
(at the time of writing), though highs of $70/tonne have been
reached in the tail end of this month, and we remain closer to
$70/tonne than $60/tonne in the final week...