China imported IO lump premium dips amid weak fundamentals

China's seaborne iron ore lump premium against 62% Fe fines began losing ground recently, mainly as demand for the feed material among steelmakers showed signs of faltering while supplies of lump have kept increasing, according to market sources.

For example, Mysteel's 62.5% Fe iron ore lump premium against 62% Fe Australian fines slipped to $0.131/dmtu on November 5, down by Yuan 0.014/dmtu from October 16 when the index had risen to a monthly high. Previously, the lump premium had recovered thanks to improved demand for the feedstock from