Fastmarkets iron ore indices
66% Fe concentrate, cfr Qingdao:
$227.01 per tonne, up $7.88 per tonne.
65% Fe blast furnace pellet, cfr Qingdao:
$262.04 per tonne, up $9.66 per tonne
High prices for finished steel in China - likely the result of the country’s longer-term goal to cut capacity
- have led to Chinese steelmakers enjoying very healthy margins, market sources said.
In addition, several sources said ongoing measures to cut emissions in the country’s Tangshan region
- its biggest steel production hub - were bolstering demand for high-grade iron ore.
A massive resurgence of Covid-19 in India has sparked supply jitters over whether a lockdown in the South Asian country would affect the transportation of raw materials abroad.
A trading source in southern China said that...