September 2011 | Steel Raw Materials
International prices make further gains: Iron Ore Highlights
At the end of the monsoon season, we would expect Indian ore availability to improve over the coming weeks.
Spot prices for Indian 63.5% Fe fines held at $188-189/tonne CFR China. At the end of the monsoon season, we would expect Indian ore availability to improve over the coming weeks, although there are only limited cargoes and that means sellers for now still have the upper hand and are asking for prices over $190/tonne CFR. This is equivalent to around $175/tonne fob. However, this is close to recent highs and buyers (particularly traders seeking a position) are likely to be cautious given the tight trading range over the last few months.
Since February, prices have traded in the $170-190/tonne CFR China range and prices have climbed steadily since early...
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