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Spot iron ore prices zoom backed by freight hike and export ban...

  1. rocket973
    13,064 Posts.
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    06/08/10
    17:30
    Post #: 6991696
    Spot iron ore prices zoom backed by freight hike and export ban - 05 Aug, 2010
    Unlike Chinese domestic steel levels, iron ore price escalation seems to be staying.

    The insulated behavior of raw material market vis ? vis finished product is propped by force majeure and hike in freight rate.

    The price of Fe 63.5/63% jumped up by 1.6% on Wednesday since Monday opening ie August 2nd 2010.

    It is learnt that Fe 63.5/63% cargo is being offered at USD 153 per tonne to USD 154 per tonne CFR China which is being countered with bids of USD 148 per tonne CFR. However the deals are scarce irrespective of the levels.

    TTY Price at posting: 31.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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