Today, Iron ore fines market fall by USD 1/MT standing at USD 134/MT CFR China for Fe 63.5/63, depicting less transactions.

Indian Traders are offering Fe 63.5/63 fines at  USD 116/MT FoB Vizag port .

A trader from Vizag port shared that they are trading Fe 59/58 at USD 99/MT FoB Vizag port. They further added, the buyers in China are bearish towards the prices, and the demand is currently stable.

In Spot market, Fe 63.5 are sold at RMB 930/WMT (Including VAT) in port Tianjin (China). Currently PB fines Fe 61.5 are standing at USD 132/MT CFR China, down by USD 1/MT, the spot price remains stable at around RMB 910/WMT at Qingdao Port.

Chinese Steel mills are fear full regarding stocking of Iron ore, as they expect further drop in prices. They are waiting for prices to come down to USD 130-132/MT CFR China.

USD 1= RMB 6.1079

India

Total Iron ore exported from India in December, 2013 was around 1.3 MnT, out of which 0.6 MnT was exported from Paradip port.