Seaborne Iron ore fines prices remain unchanged today owing to low trading in China, as many traders are leaving for festival’s holiday.

Fe 63.5/63 was offered at same level i.e. USD 125/MT CFR China, with no change in prices.

Sources said, “Many steel mills have sufficient stocks in their workplace and the rest hand full mills who are in need, are moving towards port stocks for cheaper ore.”

PB Fines Fe 61.5 also remained at USD 124/MT CFR China, whereas spot prices fall by RMB 10/MT to RMB 840/WMT at Qingdao Port.

Finished steel market remained sluggish with less demand. Currently, Square billet is offered at RMB 2,820/MT (EXW; VAT included) in Tangshan.

(USD 1 = 6.1053)

Global Iron Ore Fines Prices (in USD/MT) as on 28 Jan, 2014

India

On 27 Jan, 2014, Indian government imposed 5% duty on export of Pellets.

Exports

Vessel Eastgates with 20,000 MT of Iron ore is still being loaded at Haldia port by the shipper named Lords Bluetech.