Spot iron ore prices in China have moved up by 1.4% today. Prices of fines (Fe 62%) is at USD 63.5/MT, CFR China.
Continuing yesterdays uptrend, spot iron ore prices in China have increased further by USD 1/MT today.
In May’15, monthly average spot iron ore prices in China moved up USD 9/MT M-o-M to USD 60/MT, CNF China over improved buying from steel mills in China.
Iron Ore Stocks at Chinese Major Ports witness Reduction:
Iron ore stocks at Chinese major ports have fallen marginally from 88.4 MnT to 87.6 MnT last week.
Global Iron Ore Prices
|
|
Material Type |
|
| Fe 62, Australia | Fines | 64 |
| Fe 62, Australia | PB Lump | 76 |
| Fe 65, Brazil | Fines | 68 |
| Fe 65, Brazil | Lump | 75 |
| Fe 64/63, South Africa | Lump | 79 |
| Fe 64.5, South Africa | Concentrate | 72 |
| Fe 65/64.5, South Africa | Fines | 70 |
| Fe 63/62, India | Fines | 63.5 |
| Fe 61/60, India | Fines | 58 |
| Fe 59/58, India | Fines | 54 |
CNF China prices
Source: SteelMint
China HSBC Purchasing Managers Index-a composite figure of operating conditions stood at 49.2 in May’15 and still remained below the neutral mark of 50. Operating conditions continued to deteriorate in May coupled with less orders in hand.
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