Iron ore fines (Fe 63.5/63) prices stands at around USD 132-133/MT CFR China, drop of USD 1/MT.
Environmental issues and sluggish demand owning to winters, forced Blast furnaces to close their operations, leaving a dent over Iron ore demand. Currently, billet stands at RMB 2,960/MT (EXW; VAT included) in Tangshan. The most traded rebar contract for May delivery opens at RMB 3,616/MT, fell by RMB 11 /MT.
Freight rates from Brazil to China (Capesized vessel) fell by USD 5/ WMT to USD 25.5/WMT as Chinese mills are almost done with the restocking process.
Trade wise:
China based traders sold Iron ore fines at various ports at below prices:
| Grade | Material description | Prices | Ports |
| Fe 62 | West African fines | RMB 910/ MT | Shandong port |
| Fe 58 | Yandi fines | RMB 810/ MT | Shandong port |
| Fe 56 | Australian fines | RMB 810/ MT | Southern port |
| Fe 56 | S. African fines | RMB 760/ MT | Shandong port |
| Fe 53 | Indian fines | RMB 630/ MT | Shandong port |
India:
GPIL, largest Iron Pellet manufacturer based in India’s central region would shut down its pellet plant of installed capacity 0.6 MnT pa, for around 2 months owing to maintenance and replacement of refractory’s lining and change of machining parts of travel grate.
Today, a vessel named ‘Jahan’ of LG Minerals was traced in Port Paradip that would be carrying 26,000 MT of Iron ore fines.
USD 1= RMB 6.1161
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