Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.
Fastmarkets iron ore indices
Pellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne
66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne
65% Fe blast furnace pellet, cfr Qingdao: $169.69 per tonne, down by $12.35 per tonne
Key drivers
Chinese steel mill margins have been narrowing, which is expected to affect their consumption of iron ore, given that better price-performance brands are being seen as a priority and demand for iron ore concentrate and pellets could weaken as a result, a trading source in Singapore said.
Demand for iron ore concentrate has been relatively better in Europe compared with China, so...