Spot iron ore prices move up marginally by 1.4% today.
Iron ore prices in China moved up today by USD 0.7/MT. Fe 62% fines is at USD 51.4/MT, CFR China.
Global Iron Ore Prices as on 22 July’15
|
|
Material Type |
|
| Fe 62, Australia | Fines | 51.4 |
| Fe 62, Australia | PB Lump | 56 |
| Fe 65, Brazil | Fines | 53 |
| Fe 65, Brazil | Lump | 60 |
| Fe 64/63, South Africa | Lump | 64 |
| Fe 64.5, South Africa | Concentrate | 56 |
| Fe 65/64.5, South Africa | Fines | 53 |
| Fe 63/62, India | Fines | 50 |
| Fe 61/60, India | Fines | 44 |
| Fe 59/58, India | Fines | 40 |
CNF China prices
Source: SteelMint
Stock of iron ore at Chinese ports moved up by 19% W-o-W and stood at 82.2 MnT in Week 30. Weak demand for steel, new and strict pollution standards kept outlook for steel demand in China low. Steel mills in the country continue to cut output. Some steel mills in cities in northern China have been asked to cut production by 30-50%. It is expected that it would lead to shut down of inefficient mills.
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