Spot iron ore lump premiums gained for the seventh straight week Wednesday as short supply pushed up trade levels. Platts assessed the weekly spot lump premium at $0.1975/dry mt unit, up $0.0125/ dmtu from the previous week. The premium is normalized to a CFR basis and expressed over the IODEX fines assessment. Available lump supply was generally considered tighter, both in the seaborne and port stock markets. If buyers wanted to secure material, they would have to accept firmer premiums, sources said.
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