Spot iron ore prices remained at around USD 56/MT, CFR China this week. Marginal increase was noticed post explosions at Tianjin port.
Iron ore import shipments to China were hampered over massive explosions at chemical warehouses at Tianjin port. China’s Tianjin port is the world’s 10th largest port in terms of container volume. About 25 MnT iron ore was imported at Tianjin port in 1st half of this year. The explosions on 12 Aug’15 hit movement of cargoes and caused shipping delays, which temporarily lifted spot iron ore prices.
However, immediate impact on steel mills was not seen as they have sufficient inventory to support a week’s production. Today, BHP Billiton restored its operations at Tianjin port after the blasts caused disruptions.
In terms of trading activities, the week remained quite with limited activities taking place.
Global iron ore prices as on 14 Aug’15
|
|
Material Type |
Prices in USD/MT |
|
| Fe 62, Australia | Fines | 56.2 | 0 |
| Fe 62, Australia | PB Lump | 62 | 0 |
| Fe 65, Brazil | Fines | 59 | 0 |
| Fe 65, Brazil | Lump | 66 | 0 |
| Fe 64/63, South Africa | Lump | 70 | 0 |
| Fe 64.5, South Africa | Concentrate | 62 | 0 |
| Fe 65, South Africa | Fines | 58 | 0 |
| Fe 63/62, India | Fines | 56 | +1 |
| Fe 61/60, India | Fines | 50 | +1 |
| Fe 59/58, India | Fines | 46 | +1 |
CNF China prices
Source: SteelMint
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