The iron ore market exhibited down trend for the second consecutive week as prices for different grades slid down
But it seems that the prices will continue this see saw movement as the recent reduction in RRP by the Chinese government is likely to bring back the zing back to Chinese market for a while.
Thus if the Chinese steel market reverses the trend and starts to exhibit improvement, it is likely that Chinese mills may rush back to buy iron ore propelling up the prices.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | -2% |
| Fe 63.5/62.5% | -2% |
| Fe 63/62% | -3% |
| Fe 62/61% | -3% |
| Fe 61/60% | -3% |
| Fe 60/59 % | -4% |
| Fe 59/58 % | -3% |
| Fe 58/57% | -3% |
| Fe 57/56 % | -3% |
| Fe 56/55% | -2% |
| Fe 55/54 % | -1% |
| Fe 54/ 53 % | -1% |
| Fe 53/52 % | -1% |
| Fe 52/51 % | 0% |
| Fe 51/50% | 0% |
Change is on Dec 02nd as compared to 25th 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.
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