North America: prices slide

摘要

Prices slipped lower for North American industrial pellets on a fob basis in both the spot market and for forward delivery periods. The greatest declines were in the prompt period as buyers sought reduced prices, leaving suppliers to eye sales further along the curve where pricing remained stronger. North American suppliers reported inquiries from UK buyers, but said the bids were too low to complete a sale. But they said they were close to completing deals for the beginning of next year and further out. Deals for cargoes delivered into ARA were discussed for the fourth quarter of next year in the high $180s/t, and the low $190s/t for Q1 2016, with the final prices expected to hinge largely on temperatures this winter. One producer shifted a cargo from Q4 2014 to Q1 2015 that had been on offer around $189/t, after it failed to capture buying interest.