Seaborne iron ore pellet, concentrate prices improve amid general upturn

Seaborne iron ore pellet and concentrate prices picked up moderately in the week to Friday May 17 as the iron ore market generally strengthened.

Pellets The weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $129.93 per tonne cfr China last Friday May 17, up by $1.35 per tonne from a week earlier. Deals for Indian 64% Fe Rashmi pellet were heard at $121.50-123 per tonne cfr, although some traders expected trades to take place at $121-122 per tonne cfr. Indian 64% Fe BRPL pellet and 64% Fe Jindal pellet were traded at $121-122 per tonne cfr, in line with estimated levels and little changed compared with a week earlier, according to sources. However, a Chinese trader raised his offer for a cargo of Jindal pellet from $125 per tonne cfr earlier last week to $126 per tonne later, based on “better expectations on the pellet market and already picking-up port prices”. A cargo of 64% Fe Indian KIOCL pellet traded at $115-116 per tonne fob India, while market participants expected the cfr...

Published

July Zhang

Alex Theo

May 20, 2019

04:50 GMT

Shanghai, Singapore