Chinese spot Iron ore fines prices touched 6 weeks low today.
Iron ore fines (Fe 58%) prices are standing at USD 87/MT CFR China. Yet, no trades have taken place at these price levels. Fe 62% Fines prices is standing at USD 109/MT CFR China. In last one week, prices lose USD 3-5/MT.
Stock are All Time High at Chinese Ports
Iron ore stock at major Chinese ports is in excess of 110 MnT in the present day i.e. an all time high. Banks in China aren’t easily giving away loans for the reason that there is a slowdown in Iron ore procurement, giving the impression of feeble market situation.
Iron Ore Fines Prices
|
Country |
Grade (Fe %) |
FOB |
CNF |
|
India |
63.5/63 |
92 |
110 |
|
63/62 |
91 |
109 |
|
|
61/60 |
85 |
103 |
|
|
58 |
69 |
87 |
|
|
Australia |
62 |
– |
107 |
|
58 |
– |
89 |
|
|
Brazil |
64.2 |
– |
116 |
Prices in USD/MT
Source: SteelMint Research
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