Key Facts
Benchmark 62% Fe futures for China delivery were flat at US$98.25 per tonne keeping the seaborne price in a tight range just below the US$100 mark.
Vale’s New York shares closed 2.32% higher at US$14.99 acting as a liquid proxy for international investors betting on Brazilian supply.
Rio Tinto’s US-listed shares surged 3.76% to US$97.18 outperforming peers and signalling a preference for the perceived stability of Australian exports.
CSN Mineração’s proxy fell 1.94% to US$1.01 diverging from larger rivals and showing caution toward smaller, higher-beta Brazilian miners.
