The spread between mid-grade and high-grade fines has continued to widen, with concerns over the glut in supply of the former and limited spot availability of the latter.
Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $81.03 per tonne, down $0.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $81.06 per tonne, down $0.45 per tonne.62% Fe low-alumina fines, cfr Qingdao: $80.79 per tonne, down $0.21 per tonne.58% Fe fines high-premium, cfr Qingdao: $71.15 per tonne, up $0.25 per tonne.65% Fe Brazil-origin fines, cfr Qingdao: $92.70 per tonne, up $0.40 per tonne. 62% Fe fines, fot Qingdao: 627 yuan per wet metric tonne (implied 62% Fe China Port Price, $81.77 per dry tonne), up 2 yuan per wet metric tonne.Key driversMarket participants believe that the oversupply of mid-grade fines has dragged down their prices to around $80-81 per tonne, while limited supply of high-grade fines in the spot market has kept prices reasonably steady above $91-92 per tonne.With the winter heating season just around the corner, steel mills would typically be seeking high-grade fines like the 65% Fe Iron Ore Carajas (IOCJ) as it would...