FOCUS: Price fluctuations in high-grade iron ore key concern for China steel mills

摘要

The price fluctuations in the high-grade iron ore market remains a key concern for Chinese steelmakers, especially with iron ore fines prices hitting an intra-year high on August 3. Steelmakers in China have started using a more price sensitive approach from July onward by consuming slightly cheaper low and mid-grade iron ore fines, trading sources said. The high-grade iron ore indices have also been volatile and fluctuated heavily over the past month. For instance, the sharpest rise in Fastmarkets’ index for iron ore 65% Fe Brazil-origin occurred between July 9 and July 13 at $4.50 per tonne - up around 3.8% - with the steepest drop between July 15 and July 16, where the index lost $2.30 per tonne or around 1.9%.