Seaborne Iron ore prices remain firm on low demand from steel mills and traders in China.
|
Iron Ore Fines Prices on 03 Mar,2014 |
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|
Country |
Grade |
Price in USD/MT (CNF) |
|
India |
Fe 63.5/63 |
118 |
|
Fe 61/60 |
111 |
|
|
Fe 59/58 |
101 |
|
|
Fe 53/52 |
75 |
|
|
Brazil |
Fe 65 |
119 |
|
Australia |
Fe 61.5 |
117 |
Source: SteelMint
Iron ore stocks at Chinese major port increased by about 1.1 MnT W-o-W. Currently, around 102 MnT Iron ore stocked at major Chinese port. This upsurge in Iron ore stocks will keep buyers out of the spot market.
Steel mills and traders are not in hurry to buy the cargo because of high availability of material and stagnant steel demand. Buyers are closely following steel market for restocking of Iron ore.
Market expects slight growth after mid of March if the Chinese Government will plan to take some growth initiative in coming weeks.
India Export
Vizag port: 35,000 MT Iron ore to be exported by Spong/Bagadiya /Auro from vessel name Anna Barpara.
Rungta mines to export 35,000 MT Iron ore from vessel name Jia Xiang Shan.
Paradip port: RSPL will export 35,000 MT Iron ore from vessel name Bonita and 55,000/MT Iron ore will be exported by GLASS/SHARK from vessel name Parnon.
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