Spot Iron ore prices in China declined further by 1% today. Fe 62% fines is at USD 57.8/MT, CFR China.
Restocking of Iron ore by steel mills slowed down further. Steel mills resisted from buying raw material & preferred to maintain low inventory levels on an outlook of dull demand for Steel in China.
In a move to strengthen relations with China’s shipping companies, Brazilian miner-Vale has agreed to sell four large Iron ore carriers to China’s Merchant Energy’s Shipping Co. (CMES). The, the high grade ore supplied by these carriers in North-Asia might built pressure over domestic miners in China.
Global Iron Ore Prices
| Particular | Material Type | Prices in USD/MT |
| Fe 62, Australia | Fines | 59 |
| Fe 62, Australia | PB Lump | 70 |
| Fe 65, Brazil | Fines | 63 |
| Fe 65, Brazil | Lump | 69 |
| Fe 64/63, South Africa | Lump | 74 |
| Fe 64.5, South Africa | Concentrate | 67 |
| Fe 65/64.5, South Africa | Fines | 66 |
| Fe 63/62, India | Fines | 57.8 |
| Fe 61/60, India | Fines | 52 |
| Fe 59/58, India | Fines | 48 |
CNF China prices
Source: SteelMint
till 20 May’15
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