Fortescue widens December iron ore discounts
Australian iron ore producer Fortescue Metals has widened the discount for its 56.5pc Fe SSF fines for December, as higher profit margins shift steel mills' appetite to higher grade ores.
SSF fines will be priced at an 15pc discount to the December 62pc index compared with a 12pc discount for November index-linked cargoes, according to Chinese mill buyers.
The discount on 58.3pc Fe Fortescue blended fines will widen to 10pc from 7pc, while the discount on 57.3pc Fe King's fines will widen to 7pc from 6pc.
Fortescue's newest product, 60.3pc Fe West Pilbara fines (WPF), will be priced at a 3pc discount to the December 62pc index compared with a 1pc discount in November. Fortescue's lump discount widened to 10pc from 8pc.
A widening of Chinese steel profit margins in November has prompted mills to maximise output by using more 62-65pc Fe ores.
The Argus-assessed yuan-denominated SSF fines has widened its discount to the Argus PCX 62pc portside index from around 13pc in September to around 16-18pc in October-November.
SSF priced at 530 yuan/wet metric tonne (wmt) free-on-truck Qingdao on 22 November, an 18.5pc discount to the Argus PCX portside fines index at Yn651/wmt fot Qingdao.
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
