IRON ORE DAILY: High-grade and mid-grade fines spread widens amid supply concerns

The spread between mid-grade and high-grade fines has continued to widen, with concerns over the glut in supply of the former and limited spot availability of the latter.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $81.03 per tonne, down $0.45 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $81.06 per tonne, down $0.45 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $80.79 per tonne, down $0.21 per tonne.
58% Fe fines high-premium, cfr Qingdao: $71.15 per tonne, up $0.25 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $92.70 per tonne, up $0.40 per tonne. 
62% Fe fines, fot Qingdao: 627 yuan per wet metric tonne (implied 62% Fe China Port Price, $81.77 per dry tonne), up 2 yuan per wet metric tonne.
Key drivers

Market participants believe that the oversupply of mid-grade fines has dragged down their prices to around $80-81 per tonne, while limited supply of high-grade fines in the spot market has kept prices reasonably steady above...


Alex Theo

November 13, 2019

12:15 GMT