China's imported iron ore pellet premium tops 2.5-year high

Imported pellet premiums in China that have been climbing steadily since early July have now reached a muti-year high, Mysteel's latest assessment shows, reflecting tightening supply of the feeds when demand is firm.

On November 3, Mysteel assessed the 63% Fe Ukrainian/Russian iron ore pellet premium against 62% Fe Australian fines at $10.85/dmt, the highest since late 2022. This also marked a sharp increase of $3.6/dmt or 50% from July 3, and a substantial 42% on-year increase. A key factor behind the premium