Seaborne iron ore concentrate prices continued to fall in the week to Friday May 8, under the pressure from lower pellet prices and China’s domestic concentrates market. Some sources noticed fewer offers from Indian miners for June delivery cargoes despite the slight drop in prices. Fastmarkets’ index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $93.35 per tonne on May 8, down 1.77% or $1.68 per tonne from $95.03 per tonne a week earlier. The 65% Fe Australian Karara concentrate was heard traded at the June average of a 65% Fe index plus a premium of $1.50 per tonne, June delivery.
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