Seaborne Iron ore fines offers prices remain unchanged, with Fe 63.5/63 at USD 124/MT CFR China witnessing slight transaction.

A trader at Redi port (near Goa, Maharashtra) informed, “A cargo of 52,000 MT of Fe 54 is being loaded for February shipment. Fe 54 is being offered at USD 95/DMT CFR China.”

Recently, a Vessel name Night Hawk shipped by Samrudhha, is being tracked loading 56,500MT of Iron ore, scheduled to be departed probably on 23 Jan, 2014.

Demand in China is low as Steel mills already stocked hand full of resources for the time period of Lunar New Year. From sources, its being informed that some mills may even try selling some of their contracted Iron ore cargoes on the spot market (due to ample stock available, by observing low demand). It is even assumed that, there would be lesser trade movement in this short span.

Spot prices for Fe 61.5 PB fines are at RMB 850/WMT at Qingdao Port and foreign quotes remain unchanged at USD 122/DMT CFR China. Currently, Square billet is offered at RMB 2,830/MT (EXW; VAT included) in Tangshan, fall by RMB 10/MT on Wednesday.

Global Iron Ore Fines Prices (in USD/MT) as on 23 Jan, 2014

India
Today, 55,000MT of Iron ore is being exported by SM Niryat through a vessel Triton Seagull from Paradip port.
Bagadiya & Jagwani are exporting 33,500 MT of Iron ore in vessel name Petrel Bulker from Paradip port.