Sport iron ore prices trudged cautiously amidst ambiguity. Suppliers are holding on to the cargoes sensing revival. However the buyers are equally reticent opting to play cautious to have clarity on the direction which will take at least another week to sink. The tug of war is going supplier’s way immediately but the coming days are equally engulfed in haze.
With winter approaching demand of steel and the ensuing raw material is slow therefore the buyer’s pessimism about the current rally is justified.
However Indian iron ore in perpetual short supply owing to host of production and export related impediments continued to remain strong with few transaction reported at USD 135 per tonne CNF for Fe 63.5/63% fines.
Iron ore fines
FOB India
| Grade | Change % |
| Fe 63.5/63% | 1.7% |
| Fe 63.5/62.5% | 1.7% |
| Fe 63/62 % | 0.9% |
| Fe 62 / 61% | 0.9% |
| Fe 61 / 60 % | 1.0% |
| Fe 60/59 % | 1.0% |
| Fe 59 / 58 % | 1.1% |
| Fe 58 / 57% | 1.1% |
| Fe 57/56 % | 0.0% |
| Fe 56/55% | 0.0% |
| Fe 55/54 % | 0.0% |
| Fe 54/ 53 % | 1.6% |
| Fe 53/52 % | 3.6% |
| Fe 52/51 % | 6.3% |
Change is on Nov 9th as compared to 8th Nov 2011
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(Sourced from www.steelprices-india.com)
