Demand for seaborne iron ore concentrate weakened ahead of a week-long public holiday in China for the Chinese New Year with mills in the country likely to have built up their inventories well in advance, while that for pellets was stronger due to last-minute restocking.
Concentrate
The weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $111.87 per tonne last Friday January 24, up by $1.13 per tonne from
a week earlier.
The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $110.08 per tonne last week, up by $0.70 per tonne from an average of $109.38 per tonne a week earlier.
A March-arrival cargo of...