After hitting a new 10-year low at yesterday’s closure, spot iron ore prices bounce back by 10% today.
Chinese sport iron ore (Fe 62%) prices bounced back to USD 48.3 /MT, CFR China. Yesterday, the price reached at 10-year low and was USD 44.1/MT, CFR China. Today, Shanghai rebar prices also rose by 5%.
In the first three days of week 28, prices have fallen drastically by USD 8/MT.
Demand in Chinese steel industry is also sinking as the largest consumer of iron ore in the world may have reached its peak in terms of steel production.
Global Iron Ore Prices as on 09 Jul’15
| Particular | Material Type | Prices in USD/MT |
| Fe 62, Australia | Fines | 48.3 |
| Fe 62, Australia | PB Lump | 52 |
| Fe 65, Brazil | Fines | 45 |
| Fe 65, Brazil | Lump | 53 |
| Fe 64/63, South Africa | Lump | 58 |
| Fe 64.5, South Africa | Concentrate | 51 |
| Fe 65/64.5, South Africa | Fines | 49 |
| Fe 63/62, India | Fines | 48 |
| Fe 61/60, India | Fines | 38 |
| Fe 59/58, India | Fines | 34 |
CNF China Prices in USD/MT
Source: SteelMint
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