Indian low-grade iron ore fines export prices unchanged for this week also. SteelMint’s assessment for fines (Fe 58/57%) this week is at around USD 57-58/MT, CFR China, stable against last week.
Few deals from Odisha based traders were reported at USD 57-58/MT, CFR China this week. Sources reported to SteelMint, one of the major traders from Odisha was concluded one vessel of low-grade fines (Fe 58/57) at around USD 58/MT, CFR China during this week.
In another deal, Odisha based miner had concluded a vessel of Fe 61% grade fines at around USD 74-75/MT CFR, China this week for May shipment. Note, there is a 30% export duty on high-grade ore from India with an exemption to NMDC exports under MMTC.
Spot iron ore prices firm W-o-W-: Chinese spot iron ore prices stand at USD 84/MT CFR China as on 30 Apr’20 against the same towards the end of last week’s price. However, on a monthly basis index prices are down by USD 2/MT CFR China.
As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports dropped to 115.65 MnT as against 117.95 MnT assessed a week ago.
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