The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last week on November 2nd 2009
| Delivery | 2-Nov | 27-Oct | Change |
| FOB Indian port | 74-75 | 76-77 | 2 |
| CIF Chinese port | 95-96 | 93-94 | 2 |
In USD per tonne
The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters is the largest trading association in China. 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.
However, to know EXACT export iron ore fines spot prices FOB India for various grades such as 63.5/63%, 63.5/62.5%, 63/62 %, 62/61%, 61/60%, 60/59%, 59/58 %, 58/57%, 57/56%, 56/55%, 55/54%, 54/53% and 53/52%, as and when they change, subscribe to the “Iron Ore Pricing Services” of www.steelprices-india.com by paying only USD 600 for 12months.