Seaborne iron ore concentrate of some origins continued to trade at premiums compared with discounts for other cargoes last week, while the pellet market stayed tepid.
Concentrates Fastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $96.09 per tonne on Friday November 1, up by $1.07 from a week earlier. The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $94.75 per tonne last week, down from an average of $95.24 per tonne a week earlier. The price movement was based on the visible market activity detailed below, which was included in the index calculation according to the published methodology. Judgement was applied to discard a data point for a product not frequently seen in the spot market, pending the next quarterly update of normalization coefficients. Any...