Many Chinese steelmakers switched up their sinter feed ratios to consist of more low and high-grade iron ore amid rising prices for mid-grade products in the third quarter, sources said.
This trend appeared short-lived when iron ore prices declined in the last couple of months but with coke becoming costlier in China, blends of low and high grades of iron ore appear to be making a comeback.Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao rose to a year-to-date high of $143.30 per tonne on September 7. A week later, Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao also rose to $130.17 per tonne on September 14, its highest so far...