Seaborne iron ore concentrate continued to see narrower discounts after China's week-long National Day holiday in early October, while the pellet market remained weak.
ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.88 per tonne last Friday October 11, up $3.43 per tonne from the numbers for the previous two weeks.Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $99.28 per tonne last week, compared with an average of $100.40 per tonne a week earlier and $98.26 per tonne a fortnight earlier.The price movement of the concentrate index was based on the visible market activity detailed below, which was included in the index calculation according to the published methodology. Judgment was applied to carry over data in a sub index due to low liquidity in the market, based on published fallback procedures. No data was discarded in the calculation of this index....