Seaborne iron ore concentrate and pellet prices went up in the week to Friday September 4 amid a recovery in demand, though high inventory levels at Chinese ports limited the uptrend, sources told Fastmarkets.
Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao: $136.97 per tonne, up $5.10 per tonne
65% Fe blast furnace pellet, cfr Qingdao: $143.07 per tonne, up $4.90 per tonne
Key drivers
Market participants said that demand for iron ore concentrate and pellet among Chinese mills recovered last week but high inventory levels for both products at Chinese ports tempered the upward momentum of prices.
A buyer source in southern China noted that low-alumina products were in demand during the week, but supply was low. As such, prices strengthened, he said.
But he noted that with inventory levels for both concentrate and pellets remaining...