Prices for seaborne iron ore concentrate and pellets rose last week in accordance with the strengthening of the wider iron ore market, though the situation for these niche products has yet to improve amid ample supply of domestic equivalents in China.
ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $123.05 per tonne cfr China last Friday June 21, up $4.56 per tonne from a week earlier.The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $125.06 per tonne cfr China last week, compared with an average of $120.98 per tonne cfr China a week earlier.The concentrate index was calculated according to published methodology based on visible market activity detailed below. Judgment was applied to remove a data point involving a cargo sold on a river port destination basis, since the methodology specifies that only transactions involving main sea port destinations are normalized. Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published."Four to five" 65,000-tonne cargoes of 65% Fe Karara concentrate scheduled for loading in the earlier half of July were traded at the July average of a 65% Fe...