Spot iron ore prices in Chinese market remain unchanged amid low buying interest and limited stock inventories at Chinese port. Australian PB fines of 61% Fe was traded at around $150/t CFR, where as offers from South African and Chile for Fe 63.5 Fe fines are in range of $147-152/t CFR.
“Buyers are reluctant to take positions on falling steel prices in Chinese market. Billet and HRC prices have corrected for last 3 days. Also with cyclone in Australian port clearing, supply will improve and iron ore prices may fall,” said an iron ore trader based in Rizhao port.
INDIA:
India reported a fall of over 68% in exports of Iron ore during April 2012 – Jan 2013, over corresponding period of previous year, on mining restrictions in the states of Odisha, Karnataka and Goa.
Indian exporters also limit their purchases from domestic market on low demand from Chinese buyers. With Shah commission's final visit in Odisha, supply of iron ore from the state will be hampered.
Indian exporters highlight that 63.5/63 Fe iron fines is in the range of $152-153/t CFR China.
Leave a Reply