The Seaborne Iron prices show upward movement by USD 1/MT, to USD 131-132/MT CFR China of Fe 63.5.
The prices of Iron ore are considered to be at their lowest for this winter, therefore few mills are showing buying interest, but not with the motive to restock.
Today, Spot prices for Fe 61.5 PB fines are at around RMB 880/WMT at Qingdao Port and foreign quotes are at around USD 132/DMT CFR China, consecutive rise by another USD 1/DMT.
Yesterday, most active Fe 62 Iron ore contract for May delivery closed at RMB 903/DMT, showing an uptrend by RMB 2/DMT from pre-settlement. Currently, Square billet prices stand at RMB 2,980/MT (EXW; VAT included) in Tangshan, up by RMB 10/MT.
China based traders sold Iron ore Fines at following prices at various ports:
| Grade | Material description | Price | Port |
| Fe-61 | MAC fines | RMB 880/MT | Qingdao port |
| Fe-62 | Brazilian fines | RMB 885/MT | Shandong port |
| Fe-61 | Brazilian fines | RMB 850/MT | Shandong port |
| Fe-57.5 | Yandi fines | RMB 800/MT | Shandong port |
| Fe-57 | Australian fines | RMB 780/MT | Shandong port |
USD 1 = RMB 6.1156
India
Iron ore fines offered in Iron ore e-auction held in Karnataka, on 21 Dec were booked at higher prices than Iron ore Lumps. Booking price of Iron ore fines was about INR 3,985/MT. whereas, for Iron ore lumps was about INR 3,662/MT. Buyers are less interested to purchase Iron ore lumps owing low quality and high tumbler index.
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