Spot iron ore prices in China remain almost stable post holiday.
Iron ore market in China remained almost unchanged post holiday. Fines (Fe 62%) fines is at USD 60.5/MT, CFR China down by USD 0.1/MT against yesterday’s close of USD 60.6/MT, CFR China. Markets in China remained shut yesterday on account of dragon boat festival.
It is generally observed that steel demand in China generally falls in summer season over waning demand in construction sector. Market anticipates iron ore prices to fall further over grounds of increased supply from miners & weak demand.
Apart from worlds major miners namely Vale, Rio Tinto and BHP Billiton there is another miner – Roy Hill which is likely to begin exporting iron ore later this year. The miner has a production capacity of 55 MnT pa.
Global Iron Ore Prices
|
|
Material Type |
|
| Fe 62, Australia | Fines | 59 |
| Fe 62, Australia | PB Lump | 71 |
| Fe 65, Brazil | Fines | 63 |
| Fe 65, Brazil | Lump | 70 |
| Fe 64/63, South Africa | Lump | 74 |
| Fe 64.5, South Africa | Concentrate | 67 |
| Fe 65/64.5, South Africa | Fines | 65 |
| Fe 63/62, India | Fines | 60.5 |
| Fe 61/60, India | Fines | 55 |
| Fe 59/58, India | Fines | 51 |
CNF China prices
Source: SteelMint
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