Cheaper Chinese local supply threatens seaborne iron ore concentrate prices

Seaborne iron ore concentrate prices eased in the week ended Friday November 9, amid limited demand from major buyer China due to cheaper domestic alternatives available.

The weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $100.66 per tonne cfr China on Friday, down by $2.13 per tonne from November 2.

The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $96.98 per tonne cfr China last week, compared with an average of $97.70 per tonne cfr China the previous week.

The fall in the Fastmarkets MB 66% Fe Iron Ore Concentrate index (MBIOI-CO) was due to the visible market activity detailed below.

Judgement was used...

Published

July Zhang

Alex Theo

November 12, 2018

10:32 GMT

Singapore, Shanghai