Seaborne Iron ore fines market declined by USD 1/MT. Fe 63.5/63 stands at USD 130/MT CFR China, which is lowest against 3 months.

Weak demand of Finished Steel is a trigger to restrict Steel mills in China to stock Iron ore. The Decline in prices of Finished Steel has directly affected the price of raw material (Iron ore) in China.
[su_quote]Looking poor buying in China Iron ore market, we (Indian Iron ore traders/Exporters) have restricted the purchases to a limit, said an exporter at Paradip Port.[/su_quote]

Fe 61.5, PB Fines prices fall by USD 1/MT to about USD 128/MT CFR China, which is lowest against 6 months. Spot prices for Fe 61.5 PB fines also dropped by RMB 10/MT to RMB 880/WMT at Qingdao Port. Currently, Square billet prices stand at RMB 2,920/MT (EXW; VAT included) in Tangshan.
USD 1= RMB 6.1065

Global Iron Ore Fines Prices (in USD/MT) as on 16 Jan, 2014

Prices on DMT basis
India- Single Port Loading*

India

The Supreme Court panel is planning to auction 4 MnT of Goan Iron ore in February.

Exports

Today, 51,492 MT of Iron ore Fe 61 is being shipped by Liberty in a vessel name Port Moresby from Paradip Port.

On 15 Jan 2014, vessel Sri Prem Vidya was shipped carrying 22,000MT of Iron ore by Rungta Mines from Vizag Port.