Spot Iron ore prices in China have moved up by 4% today. Fe 62% fines are at USD 59.1/MT, CFR China.
Continuing yesterdays uptrend, Spot Iron ore prices moved up by 4% i.e USD 2/MT. Demand for high grade cargoes was seen in Chinese market which resulted in reduction of Iron ore stocks at China ports. Iron ore stocks at major China ports have fallen by 1.7 MnT W-o-W. Stocks have fallen from 93.6 MnT to 91.9 MnT.
Though there was uptrend observed in the prices, but how far will the uptrend continue still remains a question. Market participants continue to remain perplexed regarding future Iron ore price trends.
Global Iron Ore Prices
| Particular | Material Type | Prices in USD/MT | Change |
| Fe 62, Australia | Fines | 58 | +3 |
| Fe 62, Australia | PB Lump | 66 | +3 |
| Fe 65, Brazil | Fines | 62 | +3 |
| Fe 65, Brazil | Lump | 68 | +3 |
| Fe 64/63, South Africa | Lump | 73 | +3 |
| Fe 64.5, South Africa | Concentrate | 66 | +3 |
| Fe 65/64.5, South Africa | Fines | 65 | +3 |
| Fe 63/62, India | Fines | 59.1 | +2 |
| Fe 61/60, India | Fines | 53 | +2 |
| Fe 59/58, India | Fines | 49 | +2 |
CNF China prices
Source: SteelMint
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