Iron ore fines (Fe 63.5/63) prices rise by USD 1, now at around USD 134-135/MT CFR China.

Traders were expecting that almost after 2 weeks of silence in the Iron ore market with less or no purchases, Steel mills would show buying interest in order to restock ores. But nothing seems to happen. The cash injected in the market, still could not provide relief to each and every Steel mills.

Spot prices for Fe 61.5 PB fines  rise by RMB 10/MT, now at RMB 890/WMT at Qingdao Port and foreign quotes were at around USD 134/DMT CFR China, up by USD 1/DMT. The most active Fe 62 Iron ore futures closed at RMB 911/MT on Tuesday, down by almost 0.2%. Currently, Square Billet prices stand at around RMB 2,980/MT (EXW; VAT included) in Tangshan. The most traded Re-bar contract for May delivery opens at RMB 3,562/MT.

China based traders sold Iron ore on the following prices at various ports:

USD 1 = RMB 6.0990

India

Domestic Iron ore prices market remains unchanged. The demand in domestic market remains stable. Price of Fe 63 (5-18mm) of the major miner stood around 5300-6800 INR/MT.