June 2009 | Steel Raw Materials
Indian spot iron ore prices rise again: Iron Ore Highlights
There has been no major change in Indian spot export prices for iron ore fines over the last week, although higher quotes for shipping to China have pushed up cfr prices to major Chinese ports.
There has been no major change in Indian spot export prices for iron ore fines over the last week, although higher quotes for shipping to China have pushed up cfr prices to major Chinese ports. Prices for 63-63.5% Fe-content fines have edged up to around $60.5/tonne fob India, which is broadly equivalent to a delivered China price of roughly $79-80/tonne cfr. MBR understands that Indian-origin 60-61% Fe-content fines are selling for around $52/tonne fob, which is close to around $70-71/tonne cfr China.
Freight rates look set to fall as Chinese buying slows across commodities sector
Although freight rates between China and India have in fact edged up week-on-week, there have been signs over the last week of a softening in the shipping market. The Chinese government, which has contributed to the country’s record imports of various commodities this year by directly funding ‘strategic’ purchasing,...
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