The TSI 62% China CFR fell $7.50/t (4.9%) today to $145.40/t, compared to a month-to-date run rate of $153.20/t, following highs reached last Tuesday at $159/t.
Meanwhile, Platts 62% fell $4.75/t to close at $147/t, while the TSI 58% index closed at $137.60/t, off 4.6%.
The Metal Bulletin 62% price fell $5/t to $145.40/tonne. Among physical trades today, a 62% MAC fines cargo was sold by GlobalOre at $143/t between two traders, and BHPB bought a cargo of MAC fines at $145.50/t.
Meanwhile, Vale closed a 64.7% Carajas tender at $148.50/t, while RioT concluded a 61.4% Pilbara Fines tender at $145.80/t and a 64.5% Palabora concentrate cargo at $148/t. Two CSN sinter-concentrate tenders remain outstanding.
At the time of writing, ore swaps have performed better, given that heavy backwardation is already assumed, with prices off only c.$2-3/t.
Meanwhile, Shanghai rebar futures fell 1.33% on the day
AGO Price at posting:
$1.61 Sentiment: ST Sell Disclosure: Not Held
