Slow buying interest in China brings iron ore prices down.
Today, spot iron ore fines prices (Fe 62%) stood at USD 56/MT CFR China. Prices dropped by 3% since the beginning of the week. Prices at such level was last seen on 08 Sept’15.
Prices have fallen in past two days after a rise during the end of previous week. Prices have gone down due to thin buying interest of Chinese mills over slow steel demand.
Even though there is price drop in iron ore, Shanghai rebar prices today moved up marginally and were at USD 307/MT.
Iron ore inventories at major Ports in China have witnessed an increase. Iron ore stock at Chinese major Ports increased to 81.7 MnT on 06 Sept’15 which was 79.8 MnT on 28 Aug’15.
till 16 Sept’15
Global iron ore Prices
Particular |
Material Type |
Prices in USD/MT |
| Fe 62, Australia | Fines | 56 |
| Fe 62, Australia | PB Lump | 65 |
| Fe 65, Brazil | Fines | 59 |
| Fe 65, Brazil | Lump | 67 |
| Fe 64/63, South Africa | Lump | 71 |
| Fe 64.5, South Africa | Concentrate | 63 |
| Fe 65, South Africa | Fines | 58 |
| Fe 63/62, India | Fines | 57 |
| Fe 61/60, India | Fines | 51 |
| Fe 59/58, India | Fines | 47 |
CNF China prices
Source: SteelMint
Leave a Reply