China's imported iron ore pellet premium hit over 1.5-y high

Stocks of imported iron ore pellets stored at China's ports have been generally declining since early May, providing upward momentum to the country's pellet premium, Mysteel Global found.

After leveling off for nearly a month, Mysteel's 63% Fe Indian iron ore pellet premium against 62% Fe Australian fines started to climb since mid-June. By August 28, the index stood at $9.25/dmt, hitting its highest level since December 2023 and also marking a huge rise of 41.2% or