Spot iron ore prices in China have fallen by 3.7% i.e USD 2.4/MT. Fe 62% fines are at USD 62.1/MT, CFR China.
Spot iron ore prices in China fell further by USD 2.4/MT. Weak demand for steel has forced steel mills to curb output.
Steel demand in China continues to remain sluggish. China’s Baoshan Iron & Steel slashed its steel prices for Jul’15 bookings over sluggish economy. It was also reported that China’s steel production stood at 340.2 MnT in Jan’15-May’15, down by 1.6 % compared to the same time period last year .
Last week, spot iron ore Fe 62% fines prices rose to USD 65.1/MT, CFR China over lack of availability of high grade material at ports. Iron ore stocks at Chinese major ports fell to 83.8 MnT last week which were at 85.3 MnT in 1st week of Jun’15.
Global Iron Ore Prices
|
|
Material Type |
|
| Fe 62, Australia | Fines | 65 |
| Fe 62, Australia | PB Lump | 77 |
| Fe 65, Brazil | Fines | 69 |
| Fe 65, Brazil | Lump | 76 |
| Fe 64/63, South Africa | Lump | 80 |
| Fe 64.5, South Africa | Concentrate | 73 |
| Fe 65/64.5, South Africa | Fines | 71 |
| Fe 63/62, India | Fines | 62.1 |
| Fe 61/60, India | Fines | 56 |
| Fe 59/58, India | Fines | 52 |
CNF China prices
Source: SteelMint
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