The spot price of iron ore Fe 62% fines climbed $3.9/t to $153.35/t CFR China on 27 Aug’21 even as import margins narrowed. Market sources believe that buying interest may weaken again on limited-to-no import margins. Mills were heard prioritising cost-saving over productivity amid expectations of further winter production controls. However, usage ratio of low-grade fines is less likely to increase as it needs to be blended with either Brazilian Carajas fines or Chinese domestic concentrates, which is not a viable option for steelmakers in view of current high coke prices.
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