Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao:
$137.73 per tonne, up $0.76 per tonne
65% Fe blast furnace pellet, cfr Qingdao:
$146.60 per tonne, up $3.53 per tonne
Market participants said that while demand for concentrate and pellets from Chinese mills continued to recover, prices for the latter had risen more rapidly in comparison due to lower inventory levels at Chinese ports and sintering restrictions in China’s steelmaking hub of Tangshan.
A trading source in Shanghai said that ongoing sintering restrictions had pushed up demand for pellet recently. As a result, port inventories of pellet dropped significantly during the week.
This, coupled with low seaborne supply, gave pellet prices a boost.
The source said the concentrate segment had a mixed performance, with Minas Rio being traded at a premium due to a lack of low-silica products in the market, and Ukrainian...