China's iron ore lump premium falls to over 1.5-year low

China's seaborne iron ore lump premiums against 62% Fe fines which have tracked downward since mid-September have now hit a more-than 1.5-year low. Behind the weak lump premiums has been waning demand for lump ores from loss-suffering steelmakers, Mysteel Global noted.

As of November 25, Mysteel SEADEX 62.5% Fe Australian iron ore lump premium against 62% Fe Australian fines had dropped to $0.0925/dmtu, plunging by 42.2% from two months ago and hitting the lowest level since late May 2024. Iron ore lump is considered a premium product over fines as it