Continuing yesterday’s downtrend spot iron ore prices fell further today by 2% i.e. USD 1.2/MT.
Amid weak steel demand, spot iron ore prices in China fell further by USD 1.2/MT. Domestic steel mills have reduced their production owing to weak demand in construction sector.
Spot iron ore prices have weakened by around USD 3.6/MT in last two days. Prices had hit USD 65.1/MT, CFR levels last week over lack of availability of high grade iron ore but have shown a downtrend this week.
Global Iron Ore Prices
|
|
Material Type | Prices in USD/MT |
|
| Fe 62, Australia | Fines | 63 | -2 |
| Fe 62, Australia | PB Lump | 75 | -2 |
| Fe 65, Brazil | Fines | 67 | -2 |
| Fe 65, Brazil | Lump | 74 | -2 |
| Fe 64/63, South Africa | Lump | 78 | -2 |
| Fe 64.5, South Africa | Concentrate | 71 | -2 |
| Fe 65/64.5, South Africa | Fines | 69 | -2 |
| Fe 63/62, India | Fines | 60.9 | -1 |
| Fe 61/60, India | Fines | 55 | -1 |
| Fe 59/58, India | Fines | 51 | -1 |
CNF China prices
Source: SteelMint
*till 17 Jun’15
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