MinRes sees iron ore spread continuing

MINERAL Resources is stockpiling iron ore fines as it sees no end to the high discounts for lower grade ores, while demand for lithium DSO remains high.

MinRes sees iron ore spread continuing MinRes sees iron ore spread continuing MinRes sees iron ore spread continuing MinRes sees iron ore spread continuing MinRes sees iron ore spread continuing

The Iron Valley mine in the Pilbara produced just over 2 million tonnes of iron ore, but shipped 1.5Mt.

The company said it stockpiled around 500,000 tonnes of fines to preserve value while high discounts for lower grade ore continued.

MinRes said discounts in excess of 40% of the Platts 62% price were continuing.

Earlier this week, Fortescue Metals Group reported a price realisation of 66% for the December quarter.

MinRes said the current situation was “not expected to reverse any time soon”, which is at odds with what FMG chief operating officer Greg Lilleyman said on Tuesday.

Lilleyman told reporters that after returning from China, it was clear...