Buying interests for medium-grade fines improved slightly on the day where market participants saw stable demand from steel mills offering support on seaborne iron ore prices Feb. 28. Platts assessed the 62% Fe Iron Ore Index at $124.10/dry mt CFR North China on Feb. 28, up $1.6/dmt from Feb. 27. Australian miner Rio Tinto sold two 170,000 mt of Pilbara Blend Fines at floating prices of 40 cents/dmt and 45 cents/ dmt over April IODEX, while BHP sold a 90,000 mt of MACF at $121.1/dmt.
Meanwhile, the spread between the 65% and 62% Fe iron ore indexes narrowed to $13.65/dmt amid poor steel production margins. High-grade Carajas fines continued to see weak demand in the seaborne market, as some mills who require the material may prefer to purchase them at portside instead
Disclaimer: this article is from the SBB STEEL MARKET DAILY, the copyright belongs to the original author, and only represents the original author's viewpoint.
|
