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December 03, 2008


Indian iron ore spot prices in downward trends

The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has announced the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last week on April 21st 2008.

DeliveryPriceChange
FOB Indian portUSD 135-USD 145Down by USD 2 to USD 7
CIF Chinese portUSD 185-USD 196Up by USD 5
The change is with respect to prices posted on March 10th 2008

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. 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.