Physical market saw renewed interest in Indian Fe 63.5/63% fines owing to limited availability as fallout of innumerable impediments in export from India. Banning of export from Bellary and logistical bottlenecks associated with monsoon have exerted on the market sentiments.
The offers for Indian material have shot up to USD 189 per tonne although confirmed transactions are still awaited. The Steel market though maintaining a stoic silence the sentiments have firmed up with the SHFE rebar steadying.
Although activity is keenly awaited in the finished market with fundamentals aligned for buying to commence it has not galvanized into action. Market has been keeping mysteriously silent for the past 1 week even though the fundamentals are aligned for revival in buying. In this backdrop market is slated for revival in finished as well as iron ore before the National Holidays (1-7th October).
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 1% |
| Fe 63.5/62.5% | 1% |
| Fe 63/62% | 1% |
| 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 % | 1% |
| Fe 53/52 % | 1% |
| Fe 52/51 % | 1% |
Change is on Aug 26th as compared to 19th Aug 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.
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