Sesa Goa Expects Iron Ore Prices To Stabilize On China Demand...

Sesa Goa Expects Iron Ore Prices To Stabilize On China Demand
Thursday, 29 January 2009
Sesa Goa Ltd., India's biggest private iron ore exporter, said Wednesday it expects iron ore prices to stabilize on improved demand from China after falling to rock-bottom levels last year. "Spot market iron ore prices over the last couple of months have gone up by $10-$15/ton...and I'm not worried they'll come down from this level, Managing Director P.K. Mukherjee told Dow Jones Newswires Wednesday.
The spot price of 63-grade iron ore has climbed to $70/ton and higher from $56-$58/ton a couple of months ago, he said.
In the first nine months of the fiscal year ending March 31, Sesa Goa's iron ore sales rose 36% to 10.1 million metric tons.
Sesa Goa is a unit of London-listed Vedanta Resources PLC.
Source: Dow JonesThe spot price of 63-grade iron ore has climbed to $70/ton and higher from $56-$58/ton a couple of months ago, he said.
In the first nine months of the fiscal year ending March 31, Sesa Goa's iron ore sales rose 36% to 10.1 million metric tons.