Seaborne iron ore concentrate and pellet prices fell in the week ended Friday May 21, snapping an uptrend that began in late March, with the bigger fines segment of the market tumbling down for most of last week.
Fastmarkets iron ore indices
Pellet premium over 65% Fe fines, cfr China: $61.10 per tonne, down $0.40 per tonne
66% Fe concentrate, cfr Qingdao: $244.12 per tonne, down $10.31 per tonne
65% Fe blast furnace pellet, cfr Qingdao: $300.10 per tonne, down $14.40 per tonne
Key drivers
A trader northern China said the weakness in iron ore concentrate segment was strongly related to falling price for 65% Fe fines.
Fastmarkets' index for
iron ore 65% Fe Brazil-origin fines, cfr Qingdao was at $235.70 per tonne last Friday, down by $23.00 per tonne from $258.70 per tonne on Tuesday, when prices peaked. The index averaged $247.50 per tonne last week, down by $10.78 per tonne from a week earlier.
The downtrend in prices for iron ore fines was in turn attributed by sources to a closer scrutiny of the commodities...