High, medium Fe iron ore price spread expands in seaborne market

The price spread between high- and medium-grade iron ore widened slightly in the seaborne market last week, even as high-Fe fines lost favor with loss-making Chinese mills against cheaper medium-grade alternatives, Mysteel's survey showed.

On July 24, the spread between 65% Fe Carajás Fines and 62% Fe PB Fines was assessed by Mysteel at $15/dmt CFR Qingdao, up $0.9/dmt on week. The expansion came as PB Fines prices fell faster than Carajás Fines over the past week. As of July 24, 65% Fe Carajás