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| Japanese steelmakers to hike HRC price in Q4 - 09 Sep, 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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It is reported that Japan’s mills are planning to hike HR price for the fourth quarter for the customers in Asia and price talks have begun this week. But, it’s a rumor that some Japanese mills would like to offer price monthly rather than quarterly, and some of them have made deals with the customer on HRC at USD 700 per tonne FOB. The Japanese mills expect to raise their price to USD 750 per tonne for December 2010 shipment. (Sourced from YIEH.corp) ron ore spot prices feel the shock of anticipated production pruning in China On back of the cutback of steel output in China and concerns of decreased iron ore demand, the physical iron ore market is under pressure. The buying took a dip amidst negativism setting in about truncated production as government tightens its belt on emission and power consumption. Steel production is likely to take a dip as they are earmarked as bootleggers. Iron ore fine prices dipped by 1.5% on 8th September setting the tone for further slide. A 62/61Fe cargo was concluded at USD 134 per tonne CFR and another Fe 63/62 lump and fine combined cargo was done at USD 147 per tonne. Iron ore fines Fe 63/63.5 offers are prevailing at USD 150 per tonne with few takers as the traders stick to wait and watch policy. The futures market took a hit with swap price reacting radically to the weak sentiment in physical market caused by the cutback of steel production. October traded USD130 per tonne and Q4 was done USD132 per tonne. Indian iron ore fines FOB India
Change as on September 8th as compared to September 7th 2010 (Source www.steelprices-india.com) Ever since the 3 biggies have announced a possible cut of 10% to 13% in the Q4 prices the let up was imminent. 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 East Coast 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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