October 07, 2008
Indian iron ore export prices reach USD 125 mark
China Chamber of Commerce of Metals Minerals and Chemicals Importers and Exporters released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last week on August 20th 2007.
These are the highest ever reported spot prices for iron ore
| Delivery | Price | Change |
| FOB Indian port | USD 92-USD 95 | USD 5 to USD 6 |
| CIF Chinese port | USD 122-USD 125 | USD 4 to USD 5 |
The movement of CCCM released prices over last one year indicates an increase of 78% in FOB prices and 79% in CIF prices. The price increase since July itself has been about 24% for FOB delivery and 19% for CIF deliveries. There have been reports that iron ore exporters are eying USD 100 per tonne on FOB basis now
| Issuance Date | FOB | CIF |
| 2007.08.20 | 92-95 | 122-125 |
| 2007.08.13 | 87-89 | 118-120 |
| 2007.07.30 | 80-82 | 108-110 |
| 2007.07.02 | 75-76 | 103-104 |
| 2007.06.05 | 72-73 | 100-101 |
| 2007.05.08 | 68-70 | 95-96 |
| 2007.03.05 | 63-64 | 85-86 |
| 2007.02.05 | 59-60 | 81-82 |
| 2007.01.08 | 56-57 | 76-77 |
| 2006.12.5 | 52-55 | 73-75 |
| 2006.11.06 | 53-54 | 72-73 |
| 2006.10.16 | 52-54 | 71-73 |
| 2006.09.04 | 53-54 | 71-72 |
| 2006.08.14 | 52-53 | 68-70 |
The CCCMC reference prices are average prices for import transactions of Fe 63.5% Indian iron ore concluded the week prior to issuance date of such reference prices and the reference price practice is intended to regulate the domestic trading of Indian iron ore and avoid speculation on the raw material for China's booming steel industry.
