MYSTEEL: China's medium-low grade iron ore price spread hits intra-year high

Although China's imported iron ore prices have retreated over the past two weeks, the pace of decline has varied across different products. In particular, low-grade ore has come under greater pressure than medium-grade ore, causing the price spread between the two to widen rapidly, according to Mysteel's new report.

As of May 25, the spread between 61.5% Fe PB Fines and 56.5% Fe Super Special Fines (SSF) at Qingdao port under Mysteel's assessment had expanded to Yuan 147/wmt ($21.7/wmt), up 17.6% from a month earlier and the widest so far this year. The widening gap was mainly driven by