Essentially the most traded iron ore contract on the Dalian alternate, for January supply, closed up 0.1% at 707 yuan ($110.37) per tonne.
In line with Fastmarkets MB, benchmark 62% Fe fines imported into Northern China had been altering palms for $124.04 a tonne, down 0.2% from Monday’s closing.
BHP Group on Tuesday posted a close to 5% drop in first-quarter iron ore output resulting from upkeep work at its Jimblebar mine and a scarcity of rail labour attributable to covid-19 border restrictions.
However the world’s largest miner left its annual manufacturing outlook unchanged, in contrast to rival Rio Tinto which final week cut its shipments forecast due to the tight labour market.
Vale is scheduled to reveal quarterly manufacturing and gross sales after the shut of buying and selling Tuesday.
($1 = 6.4057 Chinese language yuan)
(With recordsdata from Reuters and Bloomberg)