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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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July 2011 | Steel Raw Materials


Iron ore trades in the Chinese spot market faded: Iron Ore Highlights


Low prices in China push sellers out of the market, unwilling to make offers at these levels.

Spot prices for iron ore delivered to China fell last week by 1.1% for Indian fines 63.5% materials, which stood at $175.50/tonne and by 6.3% for pellets, which stood at $186/tonne. Domestic prices fell less substantially as a small rebound on Monday was incorporated in these prices but not yet in the import prices. Chinese domestic concentrates, calculated as the average of 13 different concentrates blends from the steelmaking region of Hebei, stood at Rmb1,220/tonne ($189/tonne). Chinese domestic pellets, calculated as the average price of pellets in 9 producing regions, stood at Rmb1,331/tonne ($206/tonne). Low prices have pushed sellers out of the market, unwilling to make offers at current low prices.

Market at a...

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