China’s 64% Fe pellet premium turns negative 1st time
Aug 06, 2020 16:00
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Mysteel’s 64% Fe grade Indian iron ore pellet premium against SEADEX 62% Fe Australian fines has fallen into a negative zone since August 3, or for the first time since the launch of the assessment in March 2020, mainly due to the high pellet port stocks and limited buying interest for pellet and seaborne cargoes in general from China, market sources said on Thursday.
The mainstream Indian 64% pellet was assessed at a discount of $2.15/dmt against the 62% fines pricing index on Monday, $2.3/dmt on Tuesday and $1.95/dmt on August 5, compared with a $7.4/dmt premium on July 6, according to Mysteel’s database.
On August 5, Mysteel’s other pellet premium assessment for the 63%