Rumor seems to have taken the centre stage in a market, beset with lack of transactions and ambiguity. No price offer seems realistic as long as the transactions are eluding. However, significant recovery was reported last week for Indian cargos.
While the reprieve in iron ore market might augur well for the suppliers and has certainly given a pep to the sentiments in the market, with an unchanged backdrop demand and supply fundamentals in China, it gives rise to lingering suspicion.
Steel production continues to slide in China and mills are reluctant to ramp production in the sunset of 2011. Stock piles at Chinese ports still at nearly 100 million tonnes and the mills reluctant to commence buying dipped in uncertainty not many transactions are expected regardless of the prices. Moreover with winters on the anvil demand peter out diminishing any near chances of revival, albeit minor flicker is not ruled out for pre vacation buying.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 4% |
| Fe 63.5/62.5% | 4% |
| Fe 63/62% | 3% |
| Fe 62/61% | 3% |
| Fe 61/60% | 3% |
| Fe 60/59 % | 3% |
| Fe 59/58 % | 3% |
| Fe 58/57% | 5% |
| Fe 57/56 % | 4% |
| Fe 56/55% | 4% |
| Fe 55/54 % | 7% |
Change is on Nov 11th as compared to 4th Nov 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
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