Metal Bulletin Iron Ore Index ends week with small rise

Spot 62% Fe iron ore prices climbed marginally on Friday June 6 in a quiet market.

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Metal Bulletin’s Iron Ore Index for 62% Fe material rose by $0.48 to $94.27 per tonne cfr Qingdao.

Metal Bulletin’s daily iron ore index for 58% Fe material rose by $0.07 to $70.77 per tonne cfr Qingdao, while the 58% Fe high-grade premium rose by $0.50 to $6 per tonne cfr.

As part of a widespread crackdown on the irregular financing of imported commodities, the Bank of China is limiting the amount of financing available for new iron ore deals, sources told Steel First on Thursday.