Iron ore fines prices of Fe 63.5/63 stands at USD 135/MT CFR China, up by USD 2/MT W-o-W. Similarly, Fe 59/58 stands at USD 118/MT CFR China.
Market sentiments were positive last week owing to little restocking by Chinese Steel mills, and hoping that cash crisis would have been resolved.
In spot market, prices for Fe 61.5 PB fines are at RMB 910/WMT at Qingdao Port and foreign quotes are at USD 133/DMT CFR China fall by USD 1/DMT. Currently, square billet prices stand at RMB 2,940/MT (EXW; VAT included) in Tangshan, fall by RMB 30/MT from last Friday. The most traded rebar contract for May delivery opens at RMB 3,530/MT, down by RMB 10/MT from last close.
China based traders sold Iron ore fines on the following prices at various ports:
| Material description | Grade | Price | Port |
| Yandi fines | Fe 57.5 | RMB 820/MT | Shandong port |
| Robe river fines | Fe 57 | RMB 820/MT | Shandong port |
| SSF | Fe 56.5 | RMB 805/MT | N. China port |
| SSF | Fe 56.5 | RMB 795/MT | Shandong port |
USD 1 = RMB 6.1059
India
NMDC rolls over its Iron ore prices for the month of January. Its current prices for 6-40 mm & Fe 65 Kirandul lumps are at INR 4,500/MT, 10-150 mm & Fe 64 Bacheli ROM are at INR 3,950/MT and Fe 64 fines are at INR 2,810/MT (Basic prices, excluding royalty and taxes).
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