Amid tight supply of concentrate in domestic market, spot iron lump premium moved up by 11% W-o-W.
Lump premium which was assessed at USD 0.135/dry MT unit, CFR China has now gone up to USD 0.15/dry MT unit, CFR China. Thus week 11, 2016 witnessed weekly increment of 11%.
Market sources are of the opinion that lump premium may not continue its uptrend for long as Chinese steel mills are shifting to usage of domestic concentrate which would be more readily available in the coming days.
This week witnessed volatility in global iron ore price index. Towards the beginning of the week prices for Australian (Fe 62%) fines escalated by USD 11/MT D-o-D to USD 62.6/MT, CFR China and then the uptrend was restricted with price recoil. Yesterday (10 Mar’16) prices were recorded at USD 57.4/MT, CFR China.
Pellet Premium stable at USD 16/DMT
Amid better demand, pellet premium continued to remain stable this week. Spot pellet premium for Fe 62% BF grade pellets is at USD 0.15/dry MT unit, CFR China.
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