Singapore—Seaborne iron ore prices remained stable as mills weighed different blending options. S&P Global Platts assessed the 62% Fe Iron Ore Index at $119.50/ dry mt CFR North China on Oct. 20, up 10 cents from Oct. 19. The front-month November 62% Fe derivatives were up 30 cents from Oct. 19 to $115.75/dmt on Oct. 20. Market sources saw port stocks rise, giving mills more blending options. Some sources noted that the high-low grade combination such as blending Carajas Fines with Indian low grade fines or with high silica Brazilian fines would provide cost saving over mid-grade fines in sintering, and therefore expected weaker premiums for the mainstream mid-grade fines such as Pilbara Blend Fines and Newman Fines in the near term.
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