China iron ore pellet: Prices slide on weak demand
Iron ore pellet prices were lower on the back of a broader fall in ferrous markets since yesterday.
The Argus 64pc Fe, 3pc Al pellet was assessed at $129.50/dry metric tonne (dmt) this week, down by $5.50/dmt from last week. The 2pc Al variant was assessed at $131.50/dmt.
Buyers were largely uninterested in bidding for India-origin seaborne pellet cargoes.
A cargo of BRPL pellet with August-loading dates was offered at $132/dmt today, with another cargo of Jindal pellet offered at $130/dmt today.
An unconfirmed deal for Indian pellet was done at $132/dmt yesterday.
A cargo of KIOCL pellet with 2pc Al was offered at $138/dmt although no bids emerged.
Domestic pellet prices in China are around 100 yuan/wmt ($14.22) cheaper than imported pellet, which has made steel mills reluctant to book seaborne cargoes amid narrow profit margins. Portside stocks of imported pellet are also substantial curbing price gains.
Pellet prices have also been pressured by the fall in lump prices.
Demand for low-alumina pellet is low, narrowing the premium of 2pc Al pellet cargoes against 3pc Al pellet.
source: Argus Media
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
