London—Atlantic Basin iron ore blast furnace contract pellet premiums for August fell $6 to $61/dry mt Thursday, as surging freight rates and contracting high-grade iron ore differentials offset July’s price rise for fines imported to China. The Platts-assessed Atlantic monthly contract BF pellet premium of $61/dmt for August reflects a base of 62% Fe IODEX fines adjusted to 65% Fe with a multiple of the Platts Midrange 1% Fe differential and Brazil-China freight netback. Total pricing for 65% Fe pellets fell 2.54 cents/dmtu to $2.4629/dmtu FOB Tubarao, assessed for August, equivalent to around $160/dmt FOB Tubarao.
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