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Iron ore concentrate floating prices were flat this week as buyers remain price sensitive on high-grade ores following gains in the underlying 65pc fines index.
Floating prices for Ukrainian concentrate were assessed at a discount of 30¢/dry metric tonne (dmt) below the August Argus 65pc fines index today, unchanged from last week. Floating prices for Ukrainian cargoes have been negative since early May, under pressure from gains in 65pc Fe fines prices.
A June-loading cargo of Ukrainian concentrate was offered at 50¢/dmt above August 65pc index today.
Australian concentrate spot premiums are flat this week at $1.50/dmt above the July Argus 65pc index.
July cargoes of Citic concentrate shipping under long-term contracts settled at a $2/dmt discount to August 65pc index this week.
The market is waiting for the next monthly tender of Karara concentrate, which prices closest to the Argus index, which could occur as soon as this week.
A tender of 80,000t of Guaiba 2 pellet feed fines with a 3 June bill of lading closed at a discount of $1.93/dmt to August 65pc index today.
A cargo of Minas Rio concentrate loading in the first half of June sold at a $1/dmt premium to a 66pc concentrate index last week. Offers for the hematite concentrate had been pricing it at a discount to 65pc fines June indexes in May.
Concentrate's downstream product, iron ore pellet, has come under more downwards pressure into China from diversions from other regions. A July arrival of 90,000t 65pc Fe Ferrexpo Ukrainian pellet was offered at a $13.50/dmt premium to August 65pc index on the Globalore platform today, down from an initial offer of $13.75/dmt.
Portside trade saw low-sulphur Ukrainian concentrate with 65.38pc Fe and 0.05pc sulphur was offered at 870 yuan/wet metric tonne (wmt) at Lianyungang today.
Karara concentrate with 65.2pc Fe was offered at Yn875/wmt at Yangtze river ports yesterday.
Minas Rio concentrate with 67.2pc Fe was offered at Yn910/wmt at Yangtze river ports yesterday.
Ukrainian concentrate was sold at Yn855/wmt in Lianyungang port on 2 June.
Shandong trade today saw 66.02pc Ukrainian concentrate with 0.03pc sulphur offered at Yn870/wmt and 64.84pc Ukrainian concentrate with 0.13pc sulphur offered at Yn855/wmt.
Source: Argusmedia
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