Spot iron ore prices have increased by 2% i.e USD 1.2/MT. Fines (Fe 62%) is at USD 61.1/MT, CFR China.
Slight improvement in spot iron ore prices was witnessed today owing to buying of raw material by domestic steel mills which fell short of inventories. Though, week steel demand continues to remain a threat. Market experts anticipate China’s steel consumption is likely to fall by 6% this year; this might adversely impact the Iron ore industry.
Iron ore stocks at Chinese major ports up by 3.3 MnT
Iron ore stocks at Chinese major ports have accumulated by 3.3 MnT to 88.35 MnT this week against 85.08 MnT in last week. This is for the first time in this fiscal that stocks at Chinese ports have shown an uptrend against last week.
Global Iron Ore Prices
|
Particular |
Material Type |
Prices in USD/MT |
| Fe 62, Australia | Fines | 61 |
| Fe 62, Australia | PB Lump | 72 |
| Fe 65, Brazil | Fines | 65 |
| Fe 65, Brazil | Lump | 71 |
| Fe 64/63, South Africa | Lump | 76 |
| Fe 64.5, South Africa | Concentrate | 68 |
| Fe 65/64.5, South Africa | Fines | 67 |
| Fe 63/62, India | Fines | 61.1 |
| Fe 61/60, India | Fines | 55 |
| Fe 59/58, India | Fines | 51 |
CNF China prices
Source: SteelMint
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