Fortescue Metals Group – world’s 4th largest iron ore producer has decreased discount on low-grade ore for May’20. SteelMint has learned from sources that FMG has lowered discount of SSF low-grade fines (Fe 56.7%) from 14% in Apr’20 to 13% for May’20 deliveries. Seems strong Chinese demand for low grade iron ore has resulted in lowering discount further.
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