Chinese spot iron ore prices fell today (13 Oct’15) by USD 0.8/MT (i.e. 1.4%). Australian fines (Fe 62%) is at USD 54.9/MT, CFR China.
Chinese spot iron ore prices slipped today after rallying for past 4 days. After putting an end to price rally spot iron ore prices have shown a decline today and have shown a D-o-D fall of USD 0.8/MT against yesterday.
Spot iron ore market exhibited more activity today. Spot billet prices in Tangshan fell today by RMB 20/MT.
Brazilian mining giant-Vale is about to become the lowest cost iron ore miner. Decline in average exchange rate of Brazilian real against US Dollar (more than 15% in Q3 2015) which has positively impacted the miners’ production cost. Thus, it is likely to surpass Rio Tinto as the lowest cost producer
Global iron ore Prices as on 13 Oct’15
|
Particular |
Material Type |
Prices in USD/MT |
| Fe 62, Australia | Fines | 54.9 |
| Fe 62, Australia | PB Lump | 63 |
| Fe 65, Brazil | Fines | 57 |
| Fe 65, Brazil | Lump | 65 |
| Fe 64/63, South Africa | Lump | 62 |
| Fe 64.5, South Africa | Concentrate | 56 |
| Fe 65, South Africa | Fines | 55 |
| Fe 63/62, India | Fines | 55 |
| Fe 59/58, India | Fines | 45 |
CNF China prices
Source: SteelMint
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