Intense scrutiny of production curbs in China's Tangshan region - its steelmaking hub - kept prices for seaborne iron ore pellets supported in the week ended Friday March 12, though those for concentrate weakened amid falling futures.
Fastmarkets iron ore indices
65% Fe blast furnace pellet, cfr Qingdao: $227.43 per tonne, up $2.19 per tonne.
66% Fe concentrate, cfr Qingdao: $194.84 per tonne, down $6.28 per tonne.
Key drivers
The monitoring of measures to curb emissions in Tangshan was stepped up last week, which depressed demand for low-grade and mid-grade iron ore fines. But high-grade iron ore continued to be favored by steelmakers in the region, sources said.
Unannounced checks by ministry officials on four steel mills in Tangshan last Thursday found that the steelmakers had
"doctored and deleted production records" and "tipped each other off" about the spot checks.
A trading source in Singapore said the measures to control emissions, which include sintering restrictions, typically boost demand for direct-charge materials such as iron ore pellets and lump.
A buyer source in southern China said that although the strict restrictions in Tangshan...