Spot Iron ore prices unchanged today after regular upward movement since 14 Jan, 2014. Decrease in buying by traders and availability of Iron ore stocks at Chinese ports halt the price rise.
Spot Iron ore fines prices for Fe 53/52 grade material are at USD 81/MT and for Fe 63.5/63 at USD 124/MT CFR China.
“Indian exporters are waiting for improvement in Iron ore prices as the prices are very low”, said a trader.
Iron ore prices & demand are expected to increase as the Chinese weather is improving and there may be increase in construction activity. Shanghai Futures Exchange traded at RMB 3,459/MT on Tuesday for the most active Re-bar contract delivery in May .
India
Indian steel mills stay away from the Iron ore e-auction held in Goa. The major buyers in the auction were traders & miners. Mills shows less interest in purchase because of low grade material, high moisture content & logistics issue.
Export
Paradip Port: Vessel name Hinode Maru being loaded with 56,900 MT Iron ore by SM Niryat. Vessel sailed on 18 Feb, 2014 at 23:05 hrs IST.
Iron ore vessel of Rungta, Feegrade & Shark expected on Paradip port between 24 Feb and 25 Feb, 2014 for the total quantity of 125,000 MT.
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