Seaborne iron ore concentrate prices fell last week, with narrower discounts, while pellet prices continued to edge upward despite pressure from rising port stock levels in China.
ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $95.32 per tonne last Friday October 18, down by $4.56 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $95.68 per tonne last week, compared with an average of $99.28 per tonne a week 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 zero-tonnage data where a coefficient update is pending. No data was discarded in the calculation of this index. Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published.November-loading 65,000-tonne cargoes...