The global market for direct-reduced (DR) iron pellets was under pressure from falling prices for both steel scrap and finished steel products in August, sources told Fastmarkets last week.
Fastmarkets lowered its iron ore DR-grade pellet premium, Middle East reference, to $62 per tonne on Friday August 30, from $65 per tonne on July 31."A [DR pellet premium of] $62 per tonne is still 'in the ballpark', but I do not believe that steel producers will be willing to pay that price for much longer," one source said. "No one would consider buying pellets with...