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| Monday Market Monitor - Iron Ore - WEEK 35 - Chinese mill cautious - 06 Sep, 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The market of Indian iron ore export to China remained subdued with Chinese steel mills exercising caution despite recovery in domestic steel price levels. Although some deals for 63.5/63 grade iron ore were reported at USD 153.5 CFR China, the general levels of offers from Indian traders on the weekend were reported to be in the range of USD 148 per tonne to USD 149 per tonne CFR China. It seems that the news of likely reduction of Q4 prices by Big 3 as well as increased availability of iron ore from India post monsoon suppressed the sentiments among Chinese steel mills, which are already saddled with a host of problems including government clamp, power cuts as well as huge inventories. Although, the way forward is difficult to guess, some market players fee that the prices of Indian iron ore will remain under pressure in coming week and we may see further slide. Iron ore fines FOB India
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 Iron ore EX Mine Bellary
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 Iron ore EX Mine Barbil
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 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
How to subscribe 1. Register at www.steelprices-india.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-india.com. 3. Call at 0091-124-3007891/2/3 (Sourced from www.steelprices-india.com) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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