Spot Iron ore prices in Chinese market, world’s largest importer of Iron ore, have gone up by USD 1-2/MT. Current offers for Fe 62% are pertaining in the range of USD 117-118/MT CFR China. Market participants highlighted that prices are moving up on improved demand as this period is considered to be peak season for constructional activities in China.
Iron ore Exports from India
Iron ore exports from India stood at around 14.5 MnT in FY14 according to a provisional data managed by SteelMint, which covers 12 main Iron ore loading port (Paradip, Vizag, Haldia, Dhamra, Gangavaram, Krishnapatnam, Mangalore, Redi, Ennore, Kakinada, Morumgao and Mundra)
Recently, first cargo of 71,000 MT was shipped by Bagadiya Brothers from Goa (through e-auction).
Indian Mill Scale offered at USD 122-124/MT CFR China
Indian Mill Scale prices are hovering in the range of USD 122-124/MT CFR China (in Bulk), however there are not many sellers at the moment.
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