Rising demand drives up China's iron ore lump premium

Following a rebound in early February, China's portside iron ore lump premiums against 62% Fe fines have been increasing steadily. Notably, they saw substantial rises after trading resumed in the wake of the Chinese New Year (CNY) holiday that officially ended on February 23.

On February 28, the 62.5% Fe Australian iron ore lump premium against 62% Fe Australian fines was assessed by Mysteel at Yuan 0.6136/dmtu ($0.0892/dmtu), rising by Yuan 0.5727/dmt from the record low observed a month earlier. Furthermore, the premium was up by a marked Yuan 0.23/dmt or 60% compared