Continuing the downtrend, spot iron ore prices declined further today hitting a low of USD 44.1/MT, CFR China.
Today, spot iron ore prices fell by 11%. Iron ore fines (Fe 62%) prices in China hit a new low of USD 44.1/MT, CFR China. The 10-year low of USD 47/MT, CFR China was last seen in Apr’15, which had then bounced back.
There has been drastic fall in prices in last three days. Prices have weakened by USD 8/MT. Billet prices have fallen by RMB 50/MT and rebar prices by RMB 20/MT today.
Global Iron Ore Prices as on 08 July’15
|
|
Material Type |
|
| Fe 62, Australia | Fines | 44.1 |
| Fe 62, Australia | PB Lump | 57 |
| Fe 65, Brazil | Fines | 50 |
| Fe 65, Brazil | Lump | 58 |
| Fe 64/63, South Africa | Lump | 63 |
| Fe 64.5, South Africa | Concentrate | 56 |
| Fe 65/64.5, South Africa | Fines | 54 |
| Fe 63/62, India | Fines | 48 |
| Fe 61/60, India | Fines | 42 |
| Fe 59/58, India | Fines | 38 |
CNF China prices
Source: SteelMint
Prices mentioned are Monthly Average
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