Limited demand in China drives down iron ore pellet prices for third week

Seaborne iron ore pellet prices dipped for the third consecutive week on Friday October 26, on limited demand from China according to market participants.

Fastmarkets' MB 65% Fe Iron Ore Pellet Index (MBIOI-PT) was $152.47 per tonne cfr China on Friday, down by $3.16 per tonne from a week earlier. The fall in the MBIOI-PT is based on the visible market activity detailed below. A 65% Fe Indian KIOCL pellet cargo, with 1.6% alumina, was traded at around $153 per tonne cfr early last week. A trader in Singapore gave a price indication for the product of below $150 per tonne cfr later in the week, however. Offers for 64% Fe Indian Jindal, or BRPL, pellets were heard at just above $140 per tonne cfr, while tradeable levels were said...

Published

Alex Theo

October 29, 2018

09:54 GMT

Singapore