August 25,
The CNF (China) prices of Iron ore dipped on decreasing steel prices, especially because of the price collapse in Billet steel. Players were pessimistic about the market and stood on sidelines. The CNF price of Fe (63.5%) went down to US$ 153/tonne.
However the freight charges on Brazil/Australia-China route have increased by $1/tonne. The current rates are: Brazil to China- $28/tonne and Australia to China- $11/tonne. This could be an indication on increasing traffic of Iron ore in these routes.
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