SHANGHAI, Mar 28 (SMM) - The price difference between high and medium-grade ores shrank last week, so did that between medium and low-grade ores. Taking Qingdao Port as an example, the price difference between mainstream high-grade ore (IOCJ) and medium-grade ore (PBF) narrowed 5 yuan/mt to 95 yuan/mt from a week ago, while that between mainstream PBF and low-grade ore (SSF) reduced 2 yuan/mt to 129 yuan/mt. Iron ore prices crashed last week due to unstable international environment, thus the spread between spots and futures expanded sharply. Speculative transactions grew.

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