Current week would be important for Indian Iron ore exporters & traders, on other hand Chinese Iron ore market remains flat with no great transactions.
Indian exporters are offering Fe 54 Iron ore fines at around USD 84-85/MT CFR China and Fe 62 at around USD 120/MT CFR China.
Currently, Fe 63.5/63 is offered at USD 121/MT CFR China. Indian Mill Scale is hovering at around USD 123-124/MT CFR China (in bulk).
An important week begins for Indian Iron ore traders and exporter as Goa mines, would start its auction for 500,000 MT of Iron ore on 17 Feb, 2014 after almost more than a year gap due to mining ban. DMG has extended dates for submission of bids from 29 Jan to 12 Feb, 2014. Exporters feel that Sesa Sterlite will be benefited most from the auction.
Market in Chinese ports for Iron ore remain flat with more of inquiries and quotation, but less transactions. Long holidays made stocks at port increase to large extend.
Today, foreign quotes for Fe 61.5 are at USD 120/MT CFR and Spot prices at RMB 840/WMT at Qingdao Port, China. Square billet prices fell by RMB 20/MT last Sunday after Saturday’s slip of RMB 10/MT to currently RMB 2,790/MT in Tangshan.
USD 1= RMB 6.1083
Exports
- Paradip Port: Today, vessel name Asia is being loaded with 55,500 MT of Iron ore by Kashvi groups
Another vessel of Iron ore of quantity 55,000 MT named Frieda Selmer is being loaded at port by Kalinga Allieds & M. Overseas.
- Haldia Port: Today, Shipper Chamong/Bengal/Auro are loading 20,000 MT of Iron ore into vessel Dubai Knight.
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