Today, Seaborne Iron ore fines prices remain unchanged.
Sources told [su_quote]Iron ore Fe 63.5/63 is standing at USD 132/MT CFR China, depicting a reverse ratio of demand (low) and supply (high). Imported inventories of Iron ore in major Chinese ports on 10 Jan 2014, rise by 3.9 MnT at 89.3 MnT[/su_quote]
Indian traders are offering Fe 62/61 at USD 109/MT FoB Vizag port.
In spot market, prices for Fe 61.5 PB fines are at RMB 900/WMT at Qingdao Port and foreign quotes stands at USD 130/DMT CFR China. Currently, Square billet prices stand at RMB 2,910/MT (EXW; VAT included) in Tangshan, fall by RMB 30/MT from last close (Friday).
USD 1 = RMB 6.0950
Iran’s Ministry of Industries & Mine announced 10% of export duty on Iron ore exports w.e.f 21 Mar 2014. Iran is considered as the fourth largest source of Iron ore for China owing to its steady rise in production from last two years.
Global Iron Ore Fines Prices (in USD/MT) as on 13 Jan, 2014
|
Grade |
Load port |
CFR China |
|
Fe 62/61 |
Vizag/Paradip, India |
127 |
|
Fe 59/58 |
Vizag/Paradip, India |
115 |
|
Fe 53/52 |
Vizag/Paradip, India |
86 |
|
Fe 61.5 |
Dampier/Cape Lambert, Australia |
130 |
|
Fe 63.5 |
Ponta Da Madeira, Brazil |
137 |
Prices on DMT basis
India- Single Port Loading*
India
Shipment of Iron Ore from Major Indian Ports Last week
| Date | Port | Vessel Name | Quantity in MT | Shipper |
| 10-01-2014 | Kakinada | Sri Prem Vidya | 60,000 | Rungta Mines |
| 11-01-2014 | Dharma | Sanvi | 72,582 | Bagadiya Brothers |
| 12-01-2014 | Paradip | Densa Cougar | 56,363 | Kashvi Power |
| 12-01-2014 | Vizag | Vishva Jyothi | 58,400 | Royal Lines |
Source: SteelMint
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