Prices for seaborne iron ore pellets and concentrate rose in the week ended Friday July 2, albeit at a slower pace than a week earlier amid temporary restrictions on sintering and blast furnace operations in certain parts of China.
Fastmarkets iron ore indices
Iron ore pellet premium over 65% Fe fines, cfr China: $62 per tonne, unchanged
65% Fe blast furnace pellet, cfr Qingdao: $301.21 per tonne, up $0.40 per tonne
66% Fe concentrate, cfr Qingdao: $242.27 per tonne, up $0.95 per tonne
Key drivers
Sources told Fastmarkets that the Chinese government had implemented some temporary restrictions on sintering, blast furnace operations and the transportation of raw materials to cut air pollution in the provinces of Hebei and Shanxi last week ahead of the July 1 centennial of the Chinese Communist Party.
A buyer source in northern China said the restrictions depressed overall demand for iron ore, though relatively low inventory levels for high-grade products at Chinese ports provided some support to the pellets and concentrate market.
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