The hike of export duty in India on iron ore to 30% bore its first impact on the export levels with climb of USD 1 per tonne. Even though buying was relatively quiet considering that the approaching Chinese New Year (23rd January) should propel stocking.
Indian iron ore fines Fe 63.5/63% being offered at USD 146 per tonne a climb of USD 1 per tonne.
Offers from the Pilbara where much competitive.
General sentiment for finished steel and the production remaining lull even after the Chinese holiday the current hike seems more of sentimental thrust after the hike in export duty rather than actual spurt in buying.
Iron ore fines
FOB India
| Grade | Change % |
| Fe 63.5/63% | 0.8% |
| Fe 63.5/62.5% | 0.8% |
| Fe 63/62 % | 0.0% |
| Fe 62 / 61% | 0.9% |
| Fe 61 / 60 % | 0.0% |
| Fe 60/59 % | 0.0% |
| Fe 59 / 58 % | 1.0% |
| Fe 58 / 57% | 1.1% |
| Fe 57/56 % | 1.1% |
| Fe 56/55% | 1.2% |
| Fe 55/54 % | 1.3% |
| Fe 54/ 53 % | 2.7% |
| Fe 53/52 % | 1.4% |
| Fe 52/51 % | 3.2% |
Change as on Jan 10th 2012 as compared to 6th Jan 2012
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