China: Spot Iron Ore Prices increased by USD 1

• China Spot Iron ore prices increased by USD 1
• Crude Steel Production increased
• Sesa Goa receives 1 Year permit

China:

Seaborne Iron ore prices gain by USD 1 on 18 October'13
as positive sentiment prevailed in market after US agreement to increase the Government`s
borrowing limit; this decision will support the steel and iron ore demand.

SteelMint assessed that 63.5/63 seaborne Iron ore price
gain by USD 1 to USD 135 CNF China on Friday after remaining firm for whole
week  at USD 134 CFR China. Australia
61.5 PB Fines increased by USD 1 to USD 134 CFR China.

China Crude Steel production in last 10 days of September
increased to 2.152 MnT pd from 2.144 MnT pd in mid of September. This increase
in Crude Steel production is supported by growth in Chinese economy i.e. by
7.8% in September quarter.

An Iron ore trader at Shandong port sold Fe 58% fines at
RMB 830/MT and Fe 56% fines at RMB 800/MT. 

Billet EXW price dropped by RMB 20 to RMB 3000

India:

Sesa goa might start the mining operations in the 3^rd
Quarter of FY14. Sesa Goa received 1 year mining permission for the Union Ministry of Environment and Forests (MOEF)
However, the company is yet to get no-objection certificate from the forest
department, Karnataka government, and final approval from the monitoring
committee to resume operation.