China Spot Iron ore market unchanged after touching 8 month low on Wednesday. Buyers stay away from the spot market as there is increase in availability of iron ore at major ports.
There is continues fall in Iron ore prices since Monday, prices are drop by USD 5/MT. Seaborne Iron ore prices today remain firm amid low transactions. Prices for Fe 53/52 are at USD 74/MT and for Fe 63.5/63 is at USD 117/MT CNF China. Australian 61.5 PB Fines stand at USD 116/MT CNF China.
Traders are less interested in selling cargo at this price level. Buyers & seller stay away from the market as the market is very uncertain. Prices decreased because of low demand of Steel & Iron ore in China. Poor performance of construction sector is affecting the steel market badly.
East Coast of India: Vessel berthing at Haldia port delayed by 2-3 days, whereas Vizag port shows more movement of vessels causing delay in berthing by 5 days for Iron ore vessels.
India’s Export
Paradip Port: Rungta Mines is going to shipped 35,000 MT of Iron ore on vessel name Ermis.
Haldia Port: Shipper Feegrade is going to export 20,000 MT Iron ore on vessel name Port Mouton
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