Iron ore price, page-17713

So there is limited bias coming through in my posts, FMG discounts for December are below.

They’ll be at around a weighted discount of 12% for Dec and likely be around 10% for the whole of this HY

WPF which will make up 25% of output this time next year are only at a 3% discount and really will pull in the overall discount should discounts ever get near where they were last year (of course  last year supply was greater and demand lower..)

Cheers


Fortescue widens December iron ore discounts
using more 62-65pc Fe ores.

The Argus-assessed yuan-denominated SSF fines has widened its discount to the Argus PCX 62pc portside index from around 13pc in September to around 16-18pc in October-November.

SSF priced at 530 yuan/wet metric tonne (wmt) free-on-truck Qingdao on 22 November, an 18.5pc discount to the Argus PCX portside fines index at Yn651/wmt fot Qingdao.

The discount on 58.3pc Fe Fortescue blended fines will widen to 10pc from 7pc, while the discount on 57.3pc Fe King's fines will widen to 7pc from 6pc.

Fortescue's newest product, 60.3pc Fe West Pilbara fines (WPF), will be priced at a 3pc discount to the December 62pc index compared with a 1pc discount in November. Fortescue's lump discount widened to 10pc from 8pc.

A widening of Chinese steel profit margins in November has prompted mills to maximise output by using more 62-65pc Fe ores.