iron ore prices rocketing, page-2

Iron ore price recoils uncontrollably by 6pct within a week
Thursday, 11 Nov 2010


The iron ore market has witnessed a spectacular revival in November.

The progenitors of this cracker have been as follows
1. Shortage in supply from India
2. Moisture problems with spot cargo loading in India
3. Revival in domestic steel prices setting a positive momentum
4, Windfall growth in profit by 98% of 77 major mills in China giving thrust to market sentiments

Currently prices for 63.5% iron ore are prevailing around USD 164 per tonne to USD 167 per tonne CNF main Chinese port and the going looks to be good in the coming weeks as well.

Grade Change
Fe 63.5/63% 6.0%
Fe 63.5/62.5% 6.1%
Fe 63/62 % 6.3%
Fe 62 / 61% 6.6%
Fe 61 / 60 % 7.8%
Fe 60/59 % 9.3%
Fe 59 / 58 % 7.8%
Fe 58 / 57% 8.4%
Fe 57/56 % 9.2%
Fe 56/55% 10.3%
Fe 55/54 % 11.4%
Fe 54/ 53 % 12.9%
Fe 53/52 % 14.8%
Fe 52/51 % 13.0%

Change is on Nov 10th 2010 as compared to Nov 5th 2010

With the stock at Chinese port at a normal 68 million tonnes there is scope for further build up as the winter approaches. However a lot will depend on the sustainability of the domestic prices in China in short run, which drive the sentiments in iron ore market to a great extant.

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 [email protected] along with your full contact details.

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.

Subscription charges for 12 months access
Currency Single 2-5 6-12 13-25 26-40 40-60
In INR 44,000 88,000 143,000 297,000 440,000 583,000
In USD 1,100 2,200 3,630 7,260 11,000 14,300


How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to [email protected].
3. Call at 0091-124-3007891/2/3

(Sourced from www.steelprices-india.com)