Atlantic iron ore FOB pricing sees wider Vale formula premium in October
November 2, 2023 Comments Off
Atlantic Basin iron ore contracts with long-term freight formulas, such as those with fixed freight terms used by Brazilian miner Vale, saw premiums to spot Capesize rates widen in October from preceding months. Netbacks based on spot Tubarao, Brazil-Qingdao, China, reference Capesize rates — which averaged $24.61/wet mt for October — continued to yield a lower free-on-board iron ore price…
Atlantic iron ore FOB pricing sees wider Vale formula premium in October
Atlantic Basin iron ore contracts with long-term freight formulas, such as those with fixed freight terms used by Brazilian miner Vale, saw premiums to spot Capesize rates widen in October from preceding months. Netbacks based on spot Tubarao, Brazil-Qingdao, China, reference Capesize rates — which averaged $24.61/wet mt for October — continued to yield a lower free-on-board iron ore price…
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