Demand for seaborne pellets have increased, with end-users willing to pay higher prices for certain pellet brands at the port to avoid having to change their coking blend for the blast furnace, an international trader said.
Non-mainstream Brazilian fines are getting weaker demand due to their higher silica levels, an Asian trader said. End-users are not keen in securing these products with relatively low alumina levels at a discount due to the high silica levels, the source added.
An increasing end-user preference for high-grade fines was reflected in expectations of weaker demand for low-grade fines.
Fortescue Metals Group's (FMG) discounts against the Platts 62% IODEX for its iron ore fines loading in December have widened from November, market sources said.
The term contractual discount for 56.7% Fe Fortescue Blend fines has been set at 15% for December, compared with 12% for November, with the discount for 58.2% Fe Fortescue blend fines set at
10% in December as compared with 7% in November.
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