Iron ore market in China continued its downward trend today. Prices decreased by USD 7/MT in last 1 week.
Fe 63.5/63 Prices are at 8 month low
Spot Iron ore prices were seen at USD 117 /MT on 1 Jul, 2013 for 63.5/63 grade. Prices decreased by USD 2/MT today owing to negative sentiments prevailed in the market regarding steel market and smog alert.
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Iron Ore Fines Prices down by USD 7/MT in 1 week |
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|
Country |
Grade |
Price in USD/MT (CNF) |
|
India |
Fe 63.5/63 |
117 |
|
Fe 60/59 |
108 |
|
|
Fe 58/57 |
97 |
|
|
Fe 55/54 |
85 |
|
|
Brazil |
Fe 65 |
120* |
|
Fe 63.5 |
118* |
|
*Down by USD 9/MT in 1 week
Source: SteelMint
An exporter based in Paradip Port Said, “Iron ore market is very uncertain and it is difficult to say when it will bounce back. Iron ore deals are not taking place as the demand is less and prices are very low.”
Steel demand in China is not improving which results to decrease in Iron ore demand. Steel Industry is cutting their output because of decreasing steel demand and smog alert. Chinese Government forcing mills to decrease output after increase of pollution in the country.
India’s Export
Paradip Port
Shipper kalinga Alied & Kashvi to exports 55,000 MT Iron ore each on vessel name Leo & Jin Yue.
Haldia Port
Iron ore export to China from Haldia port on vessel name JIA Xiang Shan, Bonita & Ermis being loaded with total 60,000 MT Iron ore by Feegrade/Bonai.
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