DR pellet premium stable in December, but set to fall for Q1 2020

Buyers and sellers have agreed the premium to be applied to fourth-quarter shipments of direct-reduced (DR) iron pellet, while negotiations for shipments in the first quarter of 2020 have continued but at lower levels, sources told Fastmarkets in late December.

Fastmarkets' assessment of the iron ore DR-grade pellet premium, Middle East reference, remained at $39 per tonne on Monday December 31, unchanged from November 29.
Fastmarkets' index for iron ore 65% Fe, Brazil-origin fines, cfr Qingdao, which is used as the basis for pellet premium contracts, averaged $102.71 per tonne in December, up from $96.10 per tonne in November.
The negotiations for the first-quarter shipments were expected to conclude around mid-January.

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