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| Pre monsoon buying sparks Indian iron ore export prices |
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| Code:MFN002082 Prpduct:Iron Ore Date: 2010-06-09 |
Iron ore prices, for grades above 61/60, improved on week opening by 2% to 3% as some bulk cargoes are reported to have been concluded. This significant happening seems to have sent ripples in the hitherto quiet waters.
Sea freight to China for Handymax vessels from Eats coast is reported to be around USD 25 per DMT
The price hike is significant owing to the following
1. The pre monsoon buying must have just commenced
2. Moreover an agreement on quarterly pricing having been put on the back burner owing to debacle in domestic levels in China there has been below par buying for the 45 days, which has led to release of bottled demand.
3. Railway freight has been increased by INR 300 per tonne recently.
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.
To subscribe for this service, please go to the Registration Page and enter your personal or company billing information along with number of subscription and you shall be directed to a link for making payment by credit card through PayPal else we would forward an invoice to you for bank transfer.
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Currency Single 2-5 6-12 13-25 26-40 40-60
In USD 750 1500 2500 5000 7500 10000
In INR 30000 60000 100000 200000 300000 400000
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. |
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| 08 Sep 2010 | | | Cash Ask | 3M Ask |
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| Copper | 7620.00 | 7635.00 |
| Aluminium | 2120.50 | 2150.00 |
| Zinc | 2170.00 | 2197.00 |
| Lead | 2151.00 | 2179.00 |
| Nickel | 22450.00 | 22400.00 |
| Tin | 20980.00 | 21075.00 |
| Al.Alloy | 2230.00 | 2130.00 |
| NASAAC | 2081.00 | 2110.00 |
| Steel Billet | 506.00 | 527.00 |
| Cobalt | 41000.00 | 40700.00 |
| Molybdenum | 35300.00 | 36000.00 |
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2010-09-09 |
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| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
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MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.00/lb
As of Sept. 3, 2010
(updated twice weekly)
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