Seaborne iron ore concentrate and pellet prices continued to rise last week, with Chinese steelmakers still favoring higher grade materials given extending profitability.
ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao rose by $3.56 per tonne to $104.11 per tonne on Friday November 29.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $100.54 per tonne last week, up $2.24 per tonne from an average of $98.30 per tonne a week earlier.The daily settlement prices for the December and January 65% Fe iron ore contracts on the Singapore Exchange averaged $100.43 and $99.35 per tonne cfr respectively last week, compared with $97.25 and $96.22 per tonne cfr a week earlier.The price movement was based on the visible market activity detailed below, which was included in the index calculation...