Trading activity in the seaborne iron ore concentrates and pellet markets was limited in the week to Friday June 12 after increases in line with rising iron ore fines prices.
Fastmarkets'
index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $115.18 per tonne on June 12, up $2.55 per tonne from $112.63 per tonne a week earlier.
Sources said concerns over supplies from Brazil triggered momentum to push up regular iron ore fines prices, as well as the concentrate and pellet prices.
Vale's operations at its Itabira mining complex in Minas Gerais state in southeast Brazil have been suspended since June 5 to support the fight against the Covid-19 outbreak, but Vale's iron ore fines
production guidance of 310-330 million tonnes in 2020 remains unchanged because it already takes into account the loss of 15 million tonnes due to the Covid-19 pandemic.
Fastmarkets' index for 65% Fe Brazil-origin fines, cfr Qingdao, reached $117.70 per tonne on June 12, up by $4.20 from $113.50 per tonne a week earlier.
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