The seaborne iron ore pellet market dropped slightly last week, with European and Indian-origin materials being offered into China in what a seller source described as "sort of a price war."
Fastmarkets' index for iron ore 65% Fe blast furnace pellet, cfr Qingdao stood at $114.62 per tonne last Thursday April 9, down by $0.21 per tonne from a week earlier.While Indian pellets typically make up the bulk of spot cargoes offered to China, the imposition of a 21-day lockdown in India from March 25 to contain the spread of Covid-19 had led to expectations that supply from South Asian country might be constrained. Market sources in India said that weak...