Seaborne Iron ore prices remain firm on Tuesday owing to weak Iron ore market. Spot Iron ore buying by traders & steel mills decreased owing to uncertainty in market.
|
Iron Ore Fines Prices on 04 Mar, 2014 |
|||
|
Country |
Grade |
Price in USD/MT (CNF) |
M-o-M |
|
India |
Fe 63.5/63 |
118 |
-5 |
|
Fe 61/60 |
111 |
-5 |
|
|
Fe 58/57 |
98 |
-5 |
|
|
Fe 53/52 |
75 |
-5 |
|
|
Brazil |
Fe 65 |
119 |
-10 |
|
Australia |
Fe 61.5 |
117 |
-5 |
Source:SteelMint
Iron ore export from India shows upward movement in February as most of the deals take place when Iron ore prices were high. Iron ore prices are now trading at around 8 month low.
Steel mills & traders in China have limited their Iron ore buying owing to decrease in steel demand and environmental measures taken by the Chinese Government which is hampering the steel production.
India
Goa Directorate of Mines & Geology will conduct its second e-auction of the stacked Iron ore on Wednesday. The total quantity of 1.2 MnT Iron ore is offered for sale. Goa’s 1st e-auction receives good response by the bidders; out of 536,000 MT Iron ore offered 535,000 MT was purchased.
Export
Vizag port: Rungta mines to export 35,000 MT Iron ore from vessel name Port Mouton.
Paradip port: 55,000/MT Iron ore will be exported by GLASS/SHARK from vessel name Parnon.
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