China spot market opens with positive signals on Monday after touching seven month low of USD 120/MT CFR China on 12 Feb, 2014 for Fe 63.5/63 grade.
Indian Iron ore exporters are offering Fe 53/52 grade material at USD 80/MT and 63.5/63 at USD 123/MT CFR China. Spot Iron ore fines prices up in china over improvement in market sentiments.
Buyers shows interest in purchase of Iron ore at this level as prices are low. Restocking of Iron ore takes place by the mills & stockyards in China which also increases the demand & prices.
East Coast of India: Vessel berthing at Paradip & Haldia port delayed by 1-2 days, whereas Vizag port shows more movement of vessels causing delay in berthing by 4 days for Iron ore vessels.
In Goa e-auction which held on 17 Feb, 2014 almost 11 company have put their bids for the Iron ore which was stocked at MPT & Jetty. Average Fe content is between Fe 52-55%. Base price for Fe 55% Iron fines has been fixed at INR 1,820/MT, if lying at MPT and INR 1,520/MT if lying at jetty.
Goa e-auction received good response ,“One lot of Iron fines having 53% Fe content was sold at INR 1,610/MT, another lot with Fe 54% was sold at INR 1,710/MT and Fe 56% was sold at INR 1,910/MT, cargo lying at jetty.”
Shanghai Steel Rebar future up by 1% to RMB 3,455/MT owing to improvement in prices over better outlook of consumption in Chinese market. Square billet prices in Tangshan remain steady at RMB 2,840/MT (USD 465/MT) from Thursday.
USD 1=RMB 6.1053 17 Feb, 2014 (Monday)
Exports
Paradip Port: Today, vessel name Hinode Maru is being loaded with 56,900 MT of Iron ore by SM Niryat. Vessel expected to sale on 19 Feb, 2014 at 14:00 IST.
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