Weekly average spot iron ore fines (Fe 62%) prices fell marginally below 0.6%.
Chinese spot iron ore fines prices (weekly average) in week 26 remained at USD 61.2/MT, CFR China, which was at USD 61.6/MT, CFR China last week.
Spot Iron Ore Market – Week 26
- Today, Chinese spot iron ore prices for fines (Fe 62) closed at USD 60.7/MT, CFR China. The market continued at the same level on which it started this week.
- On account of Dragon boat festival, Chinese market remained closed starting this week.
Steel Demand in China Continues to Remain Weak
Steel demand in China continued to remain weak owing to onging summer season (June-August). There is low demand for iron ore in construction sector. Market anticipations are iron ore prices will fall further on increasing supplies from miners amid weak demand.
In addition, iron ore imports to China has declined as steelmakers are not showing buying interest.
Global Iron Ore Prices Week 26
| Particular | Material Type | Prices in USD/MT |
| Fe 62, Australia | Fines | 62 |
| Fe 62, Australia | PB Lump | 74 |
| Fe 65, Brazil | Fines | 65 |
| Fe 65, Brazil | Lump | 72 |
| Fe 64/63, South Africa | Lump | 77 |
| Fe 64.5, South Africa | Concentrate | 69 |
| Fe 65/64.5, South Africa | Fines | 66 |
| Fe 63/62, India | Fines | 60.7 |
| Fe 61/60, India | Fines | 55 |
| Fe 59/58, India | Fines | 51 |
CNF China prices
Source: SteelMint
Leave a Reply