Surge in Chinese crude steel production kindles iron ore price
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Tuesday, 30 Oct 2012
Ironically iron ore market appreciated by 2% on Monday despite calm in the finished steel prices.
Owing to holiday in Singapore trading was thin. However there was avid interest leading to firming up of sentiments.
Coming month is expected to see strengthening of levels as Chinese mills increased production encouraged by improvement in finished levels in the market.
Ensuing effervescence in buying of iron ore has helped firm the price of iron ore.
Iron ore fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 1.9% |
| Fe 63.5/62.5% | 1.9% |
| Fe 63/62 % | 2.0% |
| Fe 62 / 61% | 2.0% |
| Fe 61 / 60 % | 2.1% |
| Fe 60/59 % | 2.2% |
| Fe 59 / 58 % | 2.3% |
| Fe 58 / 57% | 2.4% |
| Fe 57/56 % | 2.4% |
| Fe 56/55% | 2.5% |
| Fe 55/54 % | 2.7% |
| Fe 54/ 53 % | 2.8% |
| Fe 53/52 % | 3.0% |
| Fe 52/51 % | 3.2% |
Change is on 29th October as compared to 26th October 2012
(www.steelprices-india.com)
Source - Strategic Research Institute
(www.steelguru.com)
