Continuing the uptrend, Spot Iron ore prices in China have moved by USD 2/MT, today and have increased by 16% W-o-W.
Spot Iron ore prices in China increased by 3% i.e USD 2/MT today. Restocking of Iron ore by steel mills with low inventories has led to increase in prices. Also, one of the world’s major miner – BHP Billiton also resisted from its planned expansion of Iron ore.
Though, demand for steel has yet not recovered much, which still remains a matter of concern. This might build pressure on Iron ore prices in China.
Global Iron Ore Prices
|
Particular |
Material Type | Prices in USD/MT |
W-o-W |
| Fe 62, Australia | Fines | 58 | +7 |
| Fe 65, Brazil | Fines | 61 | +9 |
| Fe 64/63, South Africa | Lump | 68 | +6 |
| Fe 63/62, India | Fines | 58.7 | +7 |
| Fe 61/60, India | Fines | 53 | +7 |
| Fe 59/58, India | Fines | 39 | +7 |
| Fe 58/57, India | Fines | 36 | +7 |
CNF China prices
Source: SteelMint Research
Owing to improvement in trading activities, Iron ore stocks at Chinese major ports have fallen by 600,000 MT last week. Stocks have fallen from 94.2 MnT to 93.6 MnT.
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