The turn of fortune in the raw material market is warming up with each passing day. Upswing unlikely to be as meteoric as the decline has certainly made speculation rife. However the mills continue to be reticent as production plummets to only 1.66 million tonne per day in beginning November from 1.76 million tonne per day in October.
Traders taking cue from the budding pot boiler are holding firmly onto their offers. Indian miners return back to the fray with the hike in offer levels touching USD 150 per tonne. Undeniably transactions are sparse but the atmosphere is charged up.
With the finished steel prices appreciating recently there is some elbow room for iron ore prices to inch up. Trading circles continue to delve in the hangover of pessimism with the thickening of winter demand for finished will curtail bearing a backlash on the iron ore prices as well.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 7% |
| Fe 63.5/62.5% | 7% |
| Fe 63/62% | 8% |
| Fe 62/61% | 8% |
| Fe 61/60% | 8% |
| Fe 60/59 % | 9% |
| Fe 59/58 % | 9% |
| Fe 58/57% | 9% |
| Fe 57/56 % | 9% |
Change is on Nov 18th as compared to 11th 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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