by Chris Becker
Spot iron ore remains around the $70 marker, with Tianjin 62% still under $70 and Qingdao falling nearly a dollar, while swaps increased. Note the rebar contract below has now switched to May, which fell nearly 2% alongside Dalian futures, now below $500:
Bloomberg is reporting this morning that Vale has passed BHP and RIO as the world’s lowest-cost iron ore producer, mainly on the back of lower shipping costs:
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