There was distinct acceleration in activity towards the weekend as foreseen on April 8th 011 vide our article “Iron ore prices might flicker before the May Day break”
“A hike in spot iron ore prices is imminent in the coming days. The inactivity which has beset the market over the past couple of weeks owing to slackness in domestic steel market and mills reticence in indulgence. However since the middle of last week and all through this week uncanny resilience in domestic markets some reasons to cheer about. The market has shown distinct proclivity for transaction. There is a distinct improvement in market sentiments. Replenishment of stock by steel mills is expected on the eve of May Day holidays. However in general there is hallo of circumspection writ large as the steel market is still tethering.”
On April 29-30, the iron ore physical iron ore market prices climbed owing to the following reasons
1. Pick up in finished steel prices during the week
2. Scarcity of high grade cargoes
3. Stockpiling by mills just before the May Day holidays
4. Pick up in freight market
The serious buyers are securing cargo not caring for the market sentiment. The Q 2 prices have set a baseline having a certain impact on the spot market.
The spot price for Fe 63.5/63% of Indian origin was reported at USD 190 per tonne. On the eve of May Day holidays the buying picked up with some of the mills showing uncanny alacrity.
In futures market, enquiries from part of steel mills got more numerous and transactions also improved slightly,
Freight market eyed signs of improvement with many fresh shipments after the Easter Day break.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 2% |
| Fe 63.5/62.5% | 2% |
| Fe 63/62% | 2% |
| Fe 62/61% | 1% |
| Fe 61/60% | 1% |
| Fe 60/59 % | 1% |
| Fe 59/58 % | 1% |
| Fe 58/57% | 1% |
| Fe 57/56 % | 1% |
| Fe 56/55% | 1% |
| Fe 55/54 % | 1% |
| Fe 54/ 53 % | 0% |
| Fe 53/52 % | 1% |
| Fe 52/51 % | 3% |
Change is on April 29th as compared to 22nd 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
To know exact levels, likely scenario, domestic iron ore spot prices at Bellary and Barbil and FOB spot prices subscribe to “Iron Ore Services” of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com along with your full contact details.
The accuracy and the speed of reporting changes is well appreciated by not only Indian miners, but by global iron ore majors as well as Chinese mills as many of them have subscribed to this service to maintain another but solid listening post as far as Indian spot market is concerned.
Subscription charges for 12 months access
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
| In INR | 50,000 | 100,000 | 160,000 | 340,000 | 500,000 | 670,000 |
| In USD | 1,300 | 2,500 | 4,000 | 8,000 | 12,000 | 16,000 |
How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3
(Sourced from www.steelprices-india.com)
