Spot Iron ore prices shows upward movement after touching lowest in last 18 Month to USD 105/MT on 11 Mar, 2014. Prices improve by USD 3-4/MT with buying increased from traders in China.
Chinese traders shows interest in spot buying of Iron ore as the market touches the lowest as well buying increase in anticipation of further upsurge in prices.
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Iron Ore Fines Prices on13 Mar, 2014 |
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|
Country |
Grade |
Price in USD/MT (CNF) |
M-o-M |
|
India |
Fe 63.5/63 |
110 |
-10 |
|
Fe 61/60 |
103 |
-10 |
|
|
Fe 58/57 |
96 |
-7 |
|
|
Fe 53/52 |
69 |
-8 |
|
|
Brazil |
Fe 65 |
111 |
-15 |
|
Australia |
Fe 62 |
109 |
-12 |
Steel demand improved marginally supported by increase in crude steel production at China by 5.9% in last 10 days of February. Iron ore stocks at Chinese major port touches all time high of 104 MnT.
India
Iron ore export from India in FY14 expected to be around 14-15 MnT from 18 MnT in FY13 (i.e. decrease of 3-4 MnT). Iron ore export from India up by 8.3% M- o-M in Feb’14 to 1.1 MnT.
Export
Paradip Port: Rungta mines to export around 45,800 MT Iron ore from vessel name STX Clover.
Haldia Port: Nordic Dalian to export around 20,000 MT Iron ore from vessel name Steer Overseas.
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