Seaborne iron ore pellet prices dipped for the third consecutive week on Friday October 26, on limited demand from China according to market participants.
Fastmarkets' MB 65% Fe Iron Ore Pellet Index (MBIOI-PT) was $152.47 per tonne cfr China on Friday, down by $3.16 per tonne from a week earlier.The fall in the MBIOI-PT is based on the visible market activity detailed below.A 65% Fe Indian KIOCL pellet cargo, with 1.6% alumina, was traded at around $153 per tonne cfr early last week. A trader in Singapore gave a price indication for the product of below $150 per tonne cfr later in the week, however.Offers for 64% Fe Indian Jindal, or BRPL, pellets were heard at just above $140 per tonne cfr, while tradeable levels were said to be just below that."Buyers [in China] are not showing interest for pellets at the moment and the market is dormant...