Seaborne iron ore concentrate prices dipped on Friday November 23 due to limited demand from major Chinese buyers and weakening high-grade iron ore prices.
The weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $95.27 per tonne cfr China on Friday, down by $4.02 per tonne from November 16. The daily 65% Fe Iron Ore Index averaged $91.56 per tonne cfr China last week, compared with an average of $95.04 per tonne cfr China the previous week. The fall in the Fastmarkets MB 66% Fe Concentrate Index (MBIOI-CO) was based on the visible market activity detailed below. For the calculation of the MBIOI-CO, judgement was applied to carry over data in indices due to low liquidity, corresponding with published fallback measures. Judgement was applied to exclude data points from the MBIOI-CO...