Steelmakers in China have started using a more price sensitive approach from July onward by consuming slightly cheaper low and mid-grade iron ore fines, trading sources said.
The high-grade iron ore indices have also been volatile and fluctuated heavily over the past month.
For instance, the sharpest rise in Fastmarkets’ index for iron ore 65% Fe Brazil-origin
occurred between July 9 and July 13 at $4.50 per tonne - up around 3.8% - with the steepest drop between July 15 and July 16, where the index lost $2.30 per tonne or around 1.9%.
Furthermore, Fastmarkets’ weekly index for iron ore 65% Fe blast furnace pellet, cfr Qingdao
climbed by $8.11 per tonne or 6.8% to $128.28 per tonne on July 17 compared with $120.17 per tonne the week earlier.
Fastmarkets’ index for iron ore 66% Fe concentrate, cfr Qingdao rose $6.63 per tonne or...