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PrintBrazilian mining giant Vale sold at $132.50/dmt CFR China through a spot tender blended iron ore fines for the first time from Sohar, Oman, customers of the miner said Monday.
"This is the first time I have seen Vale offering this new fines blend from Sohar. Previously, it has only offered Iron Ore Sohar fines (IOSO) from Sohar, so this is a totally new blend that we've not seen before," a Shanghai-based customer said.
The 24,000 mt cargo of 62.25%-Fe fines blend was termed generically in the spot tender as "non-agglomerate blended iron ore," said customers who received the invitation to bid. There was no brand name for the cargo, unlike other usual mainstream material produced by Vale, they added.
Sources said that it was unlikely that this blend from Sohar would become a mainstream product for Vale.
"This is a cargo that's being offered in such a small quantity and there isn't even any brand name given to it, so I doubt Vale has plans to make this a regular product," a Singapore-based trader said.
A source at a large Hebei-based steel mill recalled that Vale had earlier offered through spot tender a blended lump cargo, and when the miner was asked if this indicated the production of a new regular lump product, it said it was "just a one-time lump blend" that happened to be available.
"From time to time Vale has offered some spot non-mainstream material that does not have a specific brand name, and which it has blended together from some available ore it has on hand," the source at the mill added.
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