With the ever so aggressive juggernaut rattling from Australia and Brazil prices kept falling for the 4th week on the trot.
Defying logic when supply from India has been curtailed by a third and pre holiday stocking the price has plummeted by 4.5% in over a month.
Owners of unsold material continue to tweak and lower their offer prices, and in the coming week, if these get lifted, we may see further downward adjustments to the index.
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% | -3% |
| Fe 61/60% | -3% |
| Fe 60/59 % | -3% |
| Fe 59/58 % | -2% |
| Fe 58/57% | -1% |
| Fe 57/56 % | 0% |
| Fe 56/55% | 0% |
| Fe 55/54 % | 0% |
| Fe 54/ 53 % | -1% |
| Fe 53/52 % | 0% |
| Fe 52/51 % | 0% |
| Fe 51/50% | 0% |
Change is on Dec 23rd as compared to 16th Dec 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.
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