Iron Ore Price Upticks to USD 50.1/MT, CFR China

Spot iron ore prices today moved up slightly by 1.4% (USD 0.7/MT).

Iron ore market witnessed few more trading activities which supported the spot iron ore prices. As a result of which, prices inched up and closed at USD 50.1/MT, CFR China for Fe 62% fines.

In China, prices have fallen by 15% in the first half of this month. Increased supply of low cost output from Australian and Brazilian miners and steep fall in steel prices have pulled down the prices. It was reported by National Bureau of Statistics that China’s crude steel production down to 410 MnT in H1 2015, shrinking 1.3% Y-o-Y against the same time period in 2014.

Global Iron Ore Prices as on 15 July’15

CNF China Prices in USD/MT 
Source: SteelMint Research

Iron ore stock at Chinese ports have mostly remained at similar levels. Stock of iron ore at Chinese ports was recorded at 81.3 MnT in week 28 against 82 MnT in week 27.

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