| Direct reduction (DR) pellet premiums moved lower for September as participants looked to factor into contract pricing talks weaker overall pellet demand and DRI growth prospects in the Middle East for the current year. Estimated premiums for September cargoes fell to $39.50/dry mt, down $1.50/dmt from $41/dmt in August as a resumption in discussions starting after Ramadan and the summer break looked to finalize terms.
Previous provisional prices in the $40-41/dmt range gave way to downward pressure on supplier offers that had been in the mid $40s/dmt. Lower gas availability in Egypt and regional unrest in parts of the Middle East and North Africa coupled with competitive steel imports led by China and from the Commonwealth of Independent States trimmed potential growth...............................................Full Article: Source
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