Prices for seaborne iron ore concentrate and pellets rose in the week ended Friday February 26 amid strong demand for steel products in China and stricter measures to cut emissions ahead of the annual meetings of policymakers in Beijing this week.
Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao: $198.94 per tonne, up $6.33 per tonne.
65% Fe blast furnace pellet, cfr Qingdao: $222.08 per tonne, up $8.54 per tonne
Key drivers
Demand for direct-charge iron ore has increased ahead of the annual meetings of the National People's Congress and the Chinese People's Political Consultative Conference over Thursday and Friday, a trading source in Shanghai said.
Restrictions on production
were tightened in China's steelmaking hub of Tangshan last Tuesday to reduce air pollution. The restrictions included the shutting down of sintering units and blast furnaces as well as trucking restrictions between ports and steel mills.
The transportation curbs were understood to have been lifted on Monday morning, but sintering units and blast...