Last week, pellet premiums declined slightly, while lump premiums continued to rise. The continuous rise in lump premium is mainly due to the tight supply of sintered ore at some steel mills driven by production restrictions of sintering machines in Tangshan, growing the use proportion of lump. Recently, the production of domestic pellets has decreased, and the price of pellets rose, improving the cost performance of lump.
Iranian pellets may see higher export tariffs, resulting in a reduction in supply due to lack of cost performance. This will strengthen support for pellet premiums. In addition, Tangshan's environmental protection and production restrictions have been tightened, and the supply of sintered ore may become tighter. Demand for lump from steel mills may grow further. It is expected that the premiums for lump and pellet may rise slightly this week.
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