Prices for seaborne iron ore concentrate increased again in the week ended Friday January 22, supported by tight supply and strong demand for high-grade products amid steelmaking restrictions to cut emissions.
Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao: $194.69 per tonne, up $1.35 per tonne.
65% Fe blast furnace pellet, cfr Qingdao: $229.26 per tonne, down $0.02 per tonne.
Key drivers
An analyst in Shanghai said that steelmaking curbs were tightened in Tangshan early last week, which sustained demand for high-grade iron ore such as concentrate and pellets.
With almost no offers of concentrate from miners heard and most available cargoes already in the hands of mills, prices for this class of iron ore continued to strengthen in the seaborne market and at Chinese ports, a trading source in southern China told Fastmarkets.
Vale has resumed operations at its pelletizing plant in Vargem Grande,...