Seaborne Iron ore prices in China fall by USD 3/MT this week; Fe 63.5/63 is at USD 129/MT CFR China.

Trader based in Vizag port shared, [su_quote]We are offering Iron ore fines Fe 61/60 at USD 104/MT FoB Vizag port.[/su_quote]

The slowdown in Steel market in China was an expected scenario, owing to the overproduction of steel and poor demand in cold weather. And this slow down continued further by government’s interference relating to environmental regulations on Steel manufacturers. This decline in Steel prices was completely reflected on Iron ore fines demands and its prices.

Fe 61.5 PB fines prices slide by USD 1/MT to USD 127/DMT CFR China and prices offered in Spot market are at RMB 880/WMT at Qingdao Port. Currently, Square billet prices dropped by RMB 10/MT which stands at RMB 2,910/MT (EXW; VAT included) in Tangshan.

USD 1 = RMB 6.1041

Global Iron Ore Fines Prices (in USD/MT) as on 17 Jan, 2014

Prices on DMT basis
India- Single Port Loading*

India

Today, 56,000 MT of Iron ore is being shipped by FeeGrade Bonai in the vessel named Spar Corona from Paradip Port.