The Iron ore market remained unchanged this week, with increase of USD 1/MT on Monday, and by fall of USD 1/MT on Wednesday.
IRON ORE FINES PRICE ON 22 NOV, 2013
| Country | Fe Content | USD/MT |
| India | 63.5 | 136 |
| Australia | 62 | 136 |
| Australia | 61.5 | 135 |
| Brazil | 65 | 142 |
| Brazil | 63.5 | 140 |
The most traded 62%-Fe iron ore contract for May delivery sagged to RMB 932/MT at yesterday’s close. At ports, traders were trying to keep offers firm, leaving a marginal range for negotiation in real trading.
Currently, square billet prices in Tangshan stand at RMB 3010/MT,
Rolling mills buying slow down, demonstrating the unwillingness to boost up their production, taking care of dull demands in winter.
The most actively traded rebar contract for May delivery ends at RMB 3614/MT, down by RMB 9/MT, tracking yesterday’s loss.
China’s economic planner is taking serious steps to tackle industrial over capacity, after the data release ‘country’s industrial capacity utilization rate hit a 4-year low of 78% in H1 of the year’ to avoid the panic situation which would arrive after the set up of new plants which are under construction of capacity up to 90 Mnt.
USD 1 = RMB 6.138
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