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September 07, 2008


Indian iron ore spot prices stay flat last week

China Chamber of Commerce of Metals, Minerals and Chemicals Importers & Exporters has released the average reference prices for import transactions of ferrous 63.5% Indian iron ore concluded last week on January 28th 2008 as under

PriceChange
FOB Indian portUSD 136 to USD 140None
CIF Chinese portUSD 187 to USD 190Down by USD 1 to 2

The change is with reference to that posted on January 21st 2008.

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. The China Chamber of Commerce of Metals, Minerals and Chemicals Importers & Exporters are the largest trading association in China.