Rising demand for lower quality iron ore has offset the premiums that were put on higher grade ore, as price corrections in the Chilean spot market for steel and iron ore took place in November . A weakening of raw material inputs, silica and London , in mid-July have decreased the cost of lower grade ores, while the price of higher grade 62% iron ore has fallen 15% from its peak of $ 97.25 /dmt on November . US iron ore and steel industry executive Larry Lehtinen believes the Tacora concentrate project in Canada will find buyers in various segments, as demand rises for high grade iron ore and as feed for pelletization. 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 Chilean spot market for steel and iron ore took place in November . A weakening of raw material inputs, silica and London , in mid-July have decreased the cost of lower grade ores, while the price of higher grade 62% iron ore has fallen 15% from its peak of $ 97.25 /dmt on November . At the height of the difference in spread, high grade iron ore held a premium of 39% over benchmark 62% ore in mid-July .