Prices for seaborne iron ore concentrate and pellets picked up more upward momentum in the week ended Friday December 25 on strong demand from Chinese steelmakers.
Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao: $183.98 per tonne, up $15.27 per tonne.
65% Fe blast furnace pellet, cfr Qingdao: $213.86 per tonne, up $14.58 per tonne.
Key drivers
Sources said tight supply pushed up pellet prices again and increased demand for iron ore lump, which is an alternative of pellets.
A buyer source in southern China said that trading company only had a few cargoes of pellets to offer. Such a tight supply situation will easily push prices up to higher levels, he said.
While pellet prices have been rising to new highs in recent weeks, similar increases...