Fortescue Widens December Iron Ore Discounts

Australian iron ore producer Fortescue Metals has widened the discount for its 56.5pc Fe SSF fines for December, as higher profit margins shift steel mills' appetite to higher grade ores.

SSF fines will be priced at an 15pc discount to the December 62pc index compared with a 12pc discount for November index-linked cargoes, according to Chinese mill buyers.

The discount on 58.3pc Fe Fortescue blended fines will widen to 10pc from 7pc, while the discount on 57.3pc Fe King's fines will widen to 7pc from 6pc.

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