dmt Friday. Rising demand for lower quality iron ore has offset the premiums that were put on higher grade ore, as price corrections in the Chinese spot market for steel and iron ore took place in November. The Australian dollar was trading at US61.01 per US dollar, down from US63.06 late last week. At the height of the difference in spread, high grade iron ore held a premium of 39% over benchmark 62% ore in mid-July.
Rising demand for lower quality iron ore has offset the premiums that were put on higher grade ore, as price corrections in the Chinese spot market for steel and iron ore took place in November. The Australian dollar was trading at US61.01 per US dollar, down from US63.06 late last week. At the height of the difference in spread, high grade iron ore held a premium of 39% over benchmark 62% ore in mid-July.