Pellet supply for 2017 remains at $ 45 tonne, which indicates an increase of more than 25% on an annualized basis, amid strong demand and as supply remains limited.
“Demand for high quality iron ore rose after the spike in coking coal prices in the third quarter of 2016, as the higher the Fe content, the lower the demand for coking coal in the steelmaking process,” Vale said in a quarterly report.
Prices are now below current spot prices, while some suppliers have started to raise their supply prices further from the new year, the source said.
Iron ore pellets increased in price by 25% yoy
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