Seaborne iron ore concentrate continued to fetch narrower discounts last week, while the pellet market stayed soft.
ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $93.12 per tonne last Friday August 23, down $3.16 per tonne from a week earlier. The movement was based on visible market activity detailed below, which was included in the index calculation according to published methodology. One data point was discarded in the calculation of this index because it involved Pellet Feed Fines Guaiba (PFFG), a brand not commonly traded in the spot market. As such, there was no available coefficient for this brand.Any data received under Data Submitter Agreements or subject to a confidentiality request is not published.A few mills agreed to buy several 110,000-tonne September-loading cargoes of 65% Fe Citic Pacific concentrate at the October average of a 65% Fe index at a discount of $5 per tonne as part of their long-term contract with the supplier, sources said.One source told Fastmarkets last Friday that...