Prices for seaborne iron ore concentrate and pellets fell in the week to Friday August 13 amid a bearish outlook for demand for the remainder of the year.
Fastmarkets iron ore indices
Pellet premium over 65% Fe fines, cfr China: $41.20 per tonne, down $3.60 per tonne
66% Fe concentrate, cfr Qingdao: $186.69 per tonne, down $20.97 per tonne
65% Fe blast furnace pellet, cfr Qingdao: $228.36 per tonne, down $22.91 per tonne
Key drivers
The bearish sentiment continued to cloud the overall iron ore market last week, with the prospects of planned steelmaking cuts in China weighing especially on the high-grade segment, a trading source in southern China said.
The source said that transactions had been limited in both the seaborne market and at Chinese ports. Trading companies did not show any buying interest because of the likelihood of demand falling further, he said.
Iron ore concentrate used for sintering, which was previously sold at a premium against...