Nearly unmatched slide in domestic prices levels in China the iron ore prices moved on the ordained course sliding by another 1%.
With 4% decline in steel prices in domestic market in China in September the iron ore buying has been nearly absent. Mills have gone in a huddle.
The market bore a barren look as mills tried to align production with the slumping demand. Iron ore stockpiles at 94.1 million tonnes gives cushion to the mills to stay put for couple of months. A general consensus of negativity about the Chinese economy pervaded leaving transactions in the lurch.
Ironically even with week long National Holiday about to start (October 1st to 7th) there was no urgency to amass material.
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% | -3% |
| Fe 60/59 % | -3% |
| Fe 59/58 % | -3% |
| Fe 58/57% | -2% |
| Fe 57/56 % | -2% |
| Fe 56/55% | -1% |
| Fe 55/54 % | 0% |
| Fe 54/ 53 % | -1% |
| Fe 53/52 % | 0% |
| Fe 52/51 % | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
With the 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 of export prices on iron ore fines FOB Indian port as and when they change for following grades
Subscribe to “Iron Ore Services” of www.steelprices-india.com. 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.
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)
