Steel prices in China shows upward movement as well as the steel future exchange opens today with positive sentiments. This may support the Iron ore market, hovering at USD 111-112/MT on uncertain steel demand.
Spot Iron ore prices down by USD 1/MT owing to factors such as mixed sentiments, downfall in production of factories which is at 8-month low and slowness in China GDP. Upward movement in steel prices may support Iron ore prices in coming weeks.
|
Iron Ore Fines Prices on 25 Mar, 2014 |
|||
|
Country |
Grade |
Price in USD/MT (CNF) |
M-o-M |
|
India |
Fe 63.5/63 |
111 |
-8 |
|
Fe 61/60 |
104 |
-8 |
|
|
Fe 53/52 |
70 |
-7 |
|
|
Brazil |
Fe 65 |
113 |
-10 |
|
Australia |
Fe 61.5 |
110 |
-9 |
Iron ore stocks at major ports in China touched all time high of 108 MnT that’s an increase of 4 MnT in last 15 days. Some steel mills in China are stocking material directly from ports as they are getting better price than the spot market.
India Export
Paradip Port: Kashvi Power is to export 55,000 MT Iron ore in vessel name APJ Kais
Haldia Port: Around 40,000 MT Iron ore is to be exported by Rungta mines in vessel name DL Pancy & Jewel of Nippon
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