Spot iron ore prices fall further; stockpiles at ports rebound.
Spot iron ore prices in China fell further by USD 2/MT (4%) today. Fe 62% fines is at USD 52/MT, CFR China. Iron ore stocks at major Chinese ports which were witnessing reduction have shown an increase last week.
Also, compared to last week, HRC prices in China have fallen in the range of USD 20-25/MT and rebar prices have weakened by USD 10-12/MT. This might put pressure on iron ore prices.
Global Iron Ore Prices as on 06 July’15
|
Particular |
Material Type |
Prices in USD/MT |
W-o-W |
| Fe 62, Australia | Fines | 52 | -9 |
| Fe 62, Australia | PB Lump | 65 | -9 |
| Fe 65, Brazil | Fines | 55 | -9 |
| Fe 65, Brazil | Lump | 63 | -9 |
| Fe 64/63, South Africa | Lump | 70 | -5 |
| Fe 64.5, South Africa | Concentrate | 63 | -5 |
| Fe 65/64.5, South Africa | Fines | 61 | -5 |
| Fe 63/62, India | Fines | 53 | -8 |
| Fe 61/60, India | Fines | 47 | -8 |
| Fe 59/58, India | Fines | 43 | -8 |
CNF China prices
Source: SteelMint
Iron ore stock at Chinese ports which were around 80.6 MnT in week 26 have gone up by 1.7% and stood at 82 MnT in week 27.
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