Singapore—Seaborne demand remained robust as laycans for iron ore cargoes on offer moved towards September. S&P Global Platts assessed the 62% Fe Iron Ore Index at $110.9/dry mt CFR North China on July 29, up $2.85/dmt from July 28. The front-month August TSI swap was up $3/dmt from July 28 at $107.80/dmt on July 29. With ongoing tightness of mid-grade fines at the ports resulting in higher prices for mid-grade products, discounted products are gaining traction. Several sources pointed to better demand for Jimblebar Fines at the ports. "Due to improved iron content and its discount levels, blending Jimblebar with concentrate is more cost efficient than using MAC fines now," an end user said.
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