The iron ore spot prices exhibited a typical pattern of reversal last week post rally. The prices for Iron ore fines dipped by 2% to 5% and are expected to slide further during this week.
The sinusoidal trend has become a certainty although for different reasons in each phase. The latest rally can be largely imputed to hike in freight rates , increasing steel prices in China and curtailed supply owing to mess in the Indian mines.
The prime mover has always been demand from Chinese mills in conjunction with steel price in the domestic market. Currently steel prices in China have started meltdown after a month long rally as demand fundamentals remain weak making all flowery predictions of revival of academic importance.
However, a momentary flurry cannot be ruled out during the second half of December as manufactures and traders would like to stock for their requirement during and immediately after holidays till normal activity resumes.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | -2% |
| Fe 63.5/62.5% | -2% |
| Fe 63/62% | -3% |
| Fe 62/61% | -3% |
| Fe 61/60% | -3% |
| Fe 60/59 % | -3% |
| Fe 59/58 % | -3% |
| Fe 58/57% | -3% |
| Fe 57/56 % | -4% |
| Fe 56/55% | -4% |
| Fe 55/54 % | -4% |
| Fe 54/ 53 % | -4% |
| Fe 53/52 % | -5% |
Change is on December 4th as compared to November 27th 2009
Bellary
Domestic price
EX mines
| Product | Grade | Size | Change |
| Iron Ore Calibrate | Fe 65% | 10-40 | 0% |
| Iron Ore Calibrate | Fe 64% | 10-40 | 0% |
| Iron Ore Calibrate | Fe 62% | 10-40 | 0% |
| Iron Ore Calibrate | Fe 60% | 5-20 | 0% |
| Iron Ore Calibrate | Fe 62% | 5-20 | 0% |
| Iron ore - Fines | Fe 63% | Fines | 0% |
Change is on December 4th as compared to November 27th 2009
Burbil
Domestic price
EX mines
| Product | Grade | Size | Change |
| Iron ore - BF | Fe 65% | 10-40 | 0% |
| IOS-Primary | Fe 63% | 5-18 | 0% |
| IOS - Secondary | BF | - | 0% |
| Iron ore - Fines | Fe 63% | Fines | 0% |
Change is on December 4th as compared to November 27th 2009
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(Sourced from www.steelprices-india.com)
