The seaborne iron ore pellet price continued to rise in the week to Friday February 15 on Vale's supply disruptions and the force majeure declared on some users, while the concentrate market remained silent.
Pellets The MB 65% Fe Blast Furnace Pellet index, published by Fastmarkets MB, was at $141.75 per tonne cfr China on Friday, up by $7.81 per tonne from a week earlier. Market participants heard a 64% Fe Indian Jindal pellet cargo sold at $130 per tonne cfr and an offer was then made at $136 per tonne cfr. This compared with tradable levels traders estimated at $118-119 per tonne cfr before the Chinese New Year holiday on February 4-10. However, a trader said he was offering an end-February-loading cargo of the product at $130 per tonne cfr and had no inquiries yet. A 64%...