Iron ore price hurtled last week by an impressive 5% to 10% touching USD 130 per tonne for 63.5 Fe grade marking the biggest daily gain in two months,
Led by strong anticipation of inventory pile up by steel mills as the recharged industry with strongest PMI of 50.9 in 14 months and equally resounding demand in retail, auto sector and infrastructure led the brigade.
Soaring trader confidence after seeing better economic news made the speculation rife over unparallel escalation in prices till Lunar Holiday.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 5% |
| Fe 63.5/62.5% | 5% |
| Fe 63/62% | 6% |
| Fe 62/61% | 6% |
| Fe 61/60% | 6% |
| Fe 60/59 % | 6% |
| Fe 59/58 % | 6% |
| Fe 58/57% | 6% |
| Fe 57/56 % | 7% |
| Fe 56/55% | 7% |
| Fe 55/54 % | 7% |
| Fe 54/ 53 % | 8% |
| Fe 53/52 % | 8% |
| Fe 52/51 % | 8% |
| Fe 51/50% | 9% |
| Fe 50/49% | 10% |
Change is on 14th December as compared to 7th December 2012
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Source - Steel Price India
(www.steelguru.com)
