Australian miner increases discount for low-grade iron ore fines

A major Australian miner has increased the low-grade iron ore discount for May’21. SteelMint has learned from market participants that the miner has increased the discount of SSF low-grade fines (Fe 56.7%) from 10.5% in Apr’21 to 18% for May’21 deliveries. Increased preference of Chinese mills for high-grade ore has turned demand for low-grade ore weak resulting in increased discount.