Lower-grade iron ore fines prices weaken in China market

Prices of lower Fe grade iron ore fines, especially those of Super Special Fines and Jimblebar Fines, are weakening in China’s iron ore market, with their price spread against medium to high Fe grade fines such as PB Fines reaching multi-year highs, market sources said on Wednesday.

The price spread between 61.5% Fe PB Fines and 56.5% Fe Super Special Fines at Qingdao port in East China’s Shandong province as assessed by Mysteel had surged to a record high in the mid-April, and then continued to spread wider to reach a new record of Yuan 445/wmt ($67.6/wmt) on June 24.