Iron Ore fines prices remain same at around USD 133/MT CFR China, the Spot sales price of Fe 63.5 keeps stable at around RMB 920/WMT (vat included) in Tianjin port.
The Sea borne Iron ore market tends to pick, doubting the supply of material by Steel Mills owing to bad weather in near future.
In early trading, spot prices for Fe 61.5 PB fines stay at around RMB 880/WMT at Qingdao Port and foreign quotes remain unchanged around USD 133/DMT CFR China. Currently, Square Billet prices are at around RMB 2,980/MT (EXW; VAT included) in Tangshan. The most traded rebar contract for May delivery opens at RMB 3,574/MT, up by RMB 1/MT from its previous close.
China based traders sold Iron ore at following prices at various ports:
|
Grade |
Material Description |
Price |
Port |
| Fe 61 | PB fines | RMB 915/MT | Jingtang port |
| Fe 61 | PB fines | RMB 890/MT | Shandong port |
| Fe 60.5 | Brazilian fines | RMB 820/MT | Jingtang port |
| Fe 58 | Yandi fines | RMB 830/MT | Shandong port |
| Fe 56.5 | SSF | RMB 775/MT | Shandong port |
USD 1 = RMB 6.0969
India
Justice M.B. Shah Commission’s report on illegal mining in Odisha is yet to be made public. The Odisha government has submitted its response on the M.B.Shah Commission’s report to the union government. However sources close to this matter believe that things will not be as severe as they were in Karnataka and Goa.
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