Seaborne Iron ore (Fe 63.5) prices remain same at around USD 131-132/MT CFR China.
A trader based at Paradip port said, “Market had fallen down pretty much to its bottom and might stabilize now; buying interest should improve. Currently, Fe 62 is being traded at around USD 105-106/MT FoB Paradip Port.”
Traders in China are hopeful regarding good demand of Iron ore by Steel mills in January.
Spot prices for Fe 61.5 PB fines are at around RMB 880/WMT at Qingdao Port and foreign quotes were at around USD 132/DMT CFR China. Currently, Square Billet prices stand at around RMB 2,970/MT (EXW; VAT included) in Tangshan, down by RMB 10/MT. The most traded rebar contract for May delivery opens at RMB 3,603/MT, down by RMB 1/MT from previous close.
China based traders sold Iron ore at following prices at various ports
|
Grade |
Material description |
Price in RMB |
Port |
| Fe 62 | PB Lumps |
1,070/MT |
Caofeidian port |
| Fe 61 | PB Fines |
880/MT |
Shandong port |
| Fe 58 | Gibson Lumps | 935/MT
|
Shandong port |
| Fe 56 | SSF |
780/MT |
Shandong port |
USD 1= RMB 6.1050
Tender
On 26 Dec, a tender of 100,000 MT Fe 62 MNP sold at USD 132.4/MT through GlobalORE with January delivery;
A tender of 100,000 MT Fe 58 Yandi Fines sold at USD 119.2/MT through CBMX, Laycan January 16-25.
India
One of the Indian exporters said, “Freight rates are expected to fall in near future, probably by mid of January.”
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