The Shah Commission’s report on illegal mining in Odisha, considered by Committe of Secrataries (CoS), will be tabled before parliament soon.

Sources said, that Shah Commission has strongly recommended ban on exports of iron ore, however Union Ministry of Mines have clarified that export of Iron ore comes under EXIM policy.

Today, Seaborne Iron ore prices remain firm, Fe 63.5/63 stands at USD 131/MT CFR China owing to number of inquiries, but no real purchase.

Spot prices for Fe 61.5 PB remain firm at USD 129/MT CFR China. At Qingdao Port foreign quotes dropped by USD 1/MT to USD 129/DMT CFR China. Square Billet are offered at RMB 2,910/MT (EXW; VAT included) in Tangshan. Rebar for May delivery on the Shanghai Futures Exchange gained as much as 0.4 percent to 3,507 yuan/MT (USD 580), the highest level since Jan. 7

On 15 Jan 2014 USD 1=RMB 6.1005

Trade Wise

• Synergy had sold 60/60 Iron ore at USD 122/MT CFR China
• Another Shipper sold 62.5/62.5 grade Iron ore Cargo at USD 130/MT CFR China
• 55% sold at INR 2900 delivered Vizag Port
• 58% Iron Fines sold at INR 2300 (Ex Raipur)
• 62% Iron Fines sold at INR 3550 (Ex Raipur)
• 68/70% Mill Scale Indian Exporters seeking at INR 6050-6100/MT delivered Vizag port

 INDIA

Goa Government on Tuesday invited application from prospective bidders for qualifying to participate in e-auction of already extracted (approx 15 MnT) Iron ore lying at jetty and stock point in the state

Shipment Details:

On 15 Jan 2014, shipper Liberty to export 51,900 MT of Iron ore in a vessel named Port Moresby through Paradip port. Rungta mines to export 22,000 MT of Iron ore through Vizag port in the vessel named Sri Prem Vidya.