Seaborne iron ore concentrate, pellet prices move higher amid persistent mill profits

Seaborne iron ore concentrate and pellet prices continued to rise last week, with Chinese steelmakers still favoring higher grade materials given extending profitability.

Concentrate Fastmarkets’ weekly index for iron ore 66% Fe concentrate, cfr Qingdao rose by $3.56 per tonne to $104.11 per tonne on Friday November 29. The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $100.54 per tonne last week, up $2.24 per tonne from an average of $98.30 per tonne a week earlier. The daily settlement prices for the December and January 65% Fe iron ore contracts on the Singapore Exchange averaged $100.43 and $99.35 per tonne cfr respectively last week, compared with $97.25 and $96.22 per tonne cfr a week earlier. The price movement was based on the visible market activity detailed below, which was included in the index calculation...

Published

July Zhang

December 02, 2019

04:58 GMT

Shanghai

Keywords