BHP cuts June iron ore fines discounts: customers

摘要

Singapore—Australian iron ore miner BHP has trimmed the June discount for MAC fines to 0.5% below the 62% Fe index from 1.25% in May, and the discount for Jimblebar fines to 7% from 7.5% over the same period, contract customers said Friday. The discount for Yandi fines was increased to 5.5% for June from 4.5% for May, the customer sources said. BHP declined to comment. Market sources found the June discounts in line with expectations. Due to the tightness in Brazilian supply and rising steel margins in May amid healthy downstream steel demand, Chinese mills’ procurement preference has shifted toward mainstream mid-grade fines from low-grade options, and toward available products with lower alumina levels, sources said.