Fortescue Metals Group – world’s 4th largest iron ore producer has kept the sub-grade iron ore discount for SSF (super special fines) for Nov’19 unchanged. SteelMint has learned from the market participants that FMG discount for SSF low-grade fines for the month of Nov’19 will remain same at 12% similar to Oct’19.
As per the market sources, Sub-grade iron ore fines are still in strong demand.
Monthly average global iron ore fines (Fe 62%) index price witnessed stable in Sep’19 to USD 92.5/MT, CFR China in line with Aug’19 average price assessment.
Last week from India also low-grade iron ore fines (Fe 58/57%) deals concluded of 55,000 MT to China for Nov’19 shipment.
As per data compiled by SteelHome consultancy, iron ore inventory at major Chinese ports picked up to 129.95 MnT as on 8th Oct against 125.55 MnT a week ago.
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