In Week 40, spot pellet premium for BF grade Fe 65% pellets is assessed at USD 30.5/MT. Pellet premium remained stable as compared to week 39 due to less trading activities.
Upcoming Chinese holidays during 03 Oct to 07 Oct on account of National Week Holiday have compelled Chinese steelmakers to re-stock the material last week which resulted in less trading activities during the week.
Alongside, spot Chinese iron ore prices also remained stable at USD 55/MT, CFR China during the week also.
The sudden surge in coking coal prices up to the level of USD 214/MT, FoB Australia in Sept’16 have limited the trade activities of high-grade iron ore as mills were more concern about stocking coking coal sufficiently before the holiday starts.
Pellet inventories at major Chinese ports have also increased by 3.3% W-o-W. Inventories were recorded at 3.10 MnT in Week 40 against 3.0 MnT in Week 39.
Spot lump premium down by USD 0.02/DMT
In week 40, spot lump premium is assessed at USD 0.164/DMT. Lump premium was down by USD 0.02/DMT as it was USD 0.186/DMT in week 39 due to limited trade activities.
Seaborne lump inventories at Chinese major ports were recorded at 12.80 MnT in week 40, up by 0.7% as it was 12.70 MnT in Week 39.
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