Export - Chinese buyers vanish
Iron ore fines
FON East Coast of India
| Grade | Change |
| Fe 63.5/63% | -11.4% |
| Fe 63.5/62.5% | -11.5% |
| Fe 63/62 % | -10.7% |
| Fe 62 / 61% | -11.3% |
| Fe 61 / 60 % | -11.9% |
| Fe 60/59 % | -11.1% |
| Fe 59 / 58 % | -10.2% |
| Fe 58 / 57% | -10.9% |
FOB East Coast of India
Change is on August 28th 2009 as compared to August 21st 2009
The reason for this decline was prevalent as the market devoid of solid demand bursting of the bubble was on the anvil only its timing was a mystery. The receding monsoon is likely to aggravate the pall of gloom as the mils will augment supply expecting rebound in elusive demand.
As Chinese mills are postponing procurement and the availability of Indian spot cargos would increase, it appears that the rates would finally settle between today’s spot price and the 2009 benchmark, most likely at USD 80 per tonne CIF.
Domestic -Relents under poor export mobilization
Bellary
| Product | Grade | Size | Change | % |
| Iron Ore Calibrate | Fe 65% | 10-40 | 0 | 0.0% |
| Iron Ore Calibrate | Fe 64% | 10-40 | 0 | 0.0% |
| Iron Ore Calibrate | Fe 62% | 10-40 | 0 | 0.0% |
| Iron Ore Calibrate | Fe 60% | 5-20 | 0 | 0.0% |
| Iron Ore Calibrate | Fe 62% | 5-20 | 0 | 0.0% |
| Iron ore - Fines | Fe 63% | Fines | -50 | -3.6% |
Change is on August 28th 2009 as compared to August 21st 2009
Change is in USD per tonne
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(Sourced from www.steelprices-india.com)
