Prices for seaborne iron ore pellets and concentrate increased again in the week ended Friday June 18 amid an uptrend in the high-grade fines segment.
Fastmarkets iron ore indices
Iron ore pellet premium over 65% Fe fines, cfr China: $62.40 per tonne, down $0.40 per tonne.
65% Fe blast furnace pellet, cfr Qingdao: $304.92 per tonne, up $7.23 per tonne.
66% Fe concentrate, cfr Qingdao: $242.63 per tonne, up $5.50 per tonne.
Key drivers
Sources told Fastmarkets that the strengthening high-grade fines segment last week was the sole reason that pushed up prices for pellets and concentrate.
A trading source in Shanghai said that with sintering restrictions still in place in China, steelmakers in the country continued to show a preference for high- and mid-grade fines. He said that inventory levels for certain high-grade brands at Chinese ports were relatively low, and as a result, this pushed up prices for such fines and gave support to the pellets and concentrate segments too.
Fastmarkets' index for iron ore 65% Fe...