Spot iron ore export prices from India improved by another 2% to 12% on improved buying by traders expecting bullish demand of finished products in the 2nd Qtr.
The current prices levels of Indian origin Fe 63.5/63% was USD 188 per tonne to USD 190 per tonne CFR Chinese port and has remain ascendant since March end.
However below the surface there was enough fluidity in the market with most of the major mills reticent in buying as the liquidity crunch has affected them finally. With the relentless hike in lending rates by the PBOC most of the mills are facing liquidity squeeze on one hand the cost pressure compressing their profitability ratio to only 3%.
The current increase in prices has been of smooth gradient underlining the caution inherent in the market. The present ebullience in finished products has certainly galvanized the traders to take position for enhanced dividends as the seasonal demand picks up. It is to be seen with baited breath the tenacity of the mills vis-à-vis traders for the real picture to emerge.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 2% |
| Fe 63.5/62.5% | 3% |
| Fe 63/62% | 3% |
| Fe 62/61% | 3% |
| Fe 61/60% | 3% |
| Fe 60/59 % | 4% |
| Fe 59/58 % | 4% |
| Fe 58/57% | 4% |
| Fe 57/56 % | 5% |
| Fe 56/55% | 6% |
| Fe 55/54 % | 7% |
| Fe 54/ 53 % | 9% |
| Fe 53/52 % | 10% |
| Fe 52/51 % | 12% |
Change is on April 15th as compared to 8th April 2011
With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.
This has galvanized us to start reporting domestic prices of iron ore at Barbil & Bellary and export prices on FOB Indian port.
Domestic iron ore spot pricing information updated 5 days a week whereas export spot prices FOB Indian port as and when they change
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