Prices of iron ore pellets jumped to their highest level in three years in August, benefiting exporters of the key steelmaking raw material.
Indian steel-makers too stand to gain as they remain insulated from the hike since they produce their own pellets.
Prices of pellets rose 29-30 percent over the last one month to 7,400-8,000 a ton. This has also pushed up prices of finished goods. Such rates are likely to persist over the next few months, benefiting steelmakers.
Environmental concerns are driving China’s appetite for high-grade pellets. Outage at Brazil’s Samarco mines is unlikely to start operations this year and reports of force majeure by Swedish player LKAB disrupted third-party supplies.
Average prices of pellets are 7,000 per ton in the ongoing September quarter, higher than the 4,000-5,000 a ton level in 2016 and 2017.
Denne historien er fra September 2018-utgaven av Steel Insights.
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Denne historien er fra September 2018-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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