Iron ore brand price comparison: Pilbara Blend fines in demand

摘要

S&P Global Platts' brand assessments analysis shows there has been tremendous appetite for PB fines in recent weeks, though a tightness in supply and low port stocks have helped support the premium vis-à-vis other products. But as is often the case when prices or premiums climb too high, traders in China consider the product to be overvalued (particularly in a tepid steel market), and subsequently expect the price to recede. The floating price for PB fines reached its highest point since Platts has been publishing brand assessments on September 5, reaching $3.8/mt, which was higher than Vale's Brazilian Blend fines (BRBF). The BRBF floating price was $5.25/ mt higher than PB fines in early June, but was $2.75/mt lower than PB fines in early September.