- Spot Iron ore prices corrected by USD 1
- China imports expected to touch 850 MnT
- Supreme Court committee will inspect Goa Iron ore
China:
Seaborne Iron ore prices decline by USD 1 because of oversupply at the Chinese ports. Iron ore stock at ports increased by 7 MnT to 87.4 MnT in November this year. It is expected that Iron ore Imports in China for FY 14 will touch about 850 MnT.
SteelMint assessed that 63.5/63 Iron ore price on 09 Dec, 2013 corrected by USD 1 to about USD 140/MT CFR China. Australian 61.5 PB Fines is down by USD 1 to about USD 138/MT CFR China. Iron ore fines average price in the month of November stands at around USD 136/MT CFR China M-o-M increased by USD 3.
Shanghai Steel Rebar Futures increased by 1% to Yuan 3720 & Dalian commodity exchange up 0.3% to 943. Rebar gains with 12.7% increase in exports from China in November “according to data realized by customs”.
India:
Supreme Court appointed committee will inspect Iron ore stacked at a Goa port on Sunday which will be later slotted for e-auction, a panel member said.
Speaking to reporters after meeting state government officials, U V Singh, an Indian Forest Service Officer, said that the team would inspect more than 10 MnT of extracted ore Iron ore at Mormugao Port Trust (MPT) and clear it for e-auctioning.
Leave a Reply