The spot price of Indian iron ore Fe 63.5/63% showed impressive gain of 2.6% to 5.3% during last week surpassing the psychological barrier of USD 100 per tonne CNF for 63.5%/63% by a good margin.

The markets sentiments seems to be inching forward in slow but sure as the Chinese steel market bottomed out with a gain of almost 2% during last week.

The unabated growth in Chinese steel production touching 51 million tonne in September about 22% jump YoY has guzzled iron ore fanning demand. This propulsion has been supported by non settlement of contractual prices increasing dependency on spot market. The spot prices which has a distinctly sentimental tenor has shown sinusoidal vacillation month on month. The prices after peaking at USD 82 per tonne on August 7th 2009 declined by 24 % or USD 20 per tonne by September 11th 2009 and thereafter galloped by another USD 16 per tonne on November 10th 2009exhibiting a definite pattern and buoyancy.

INR appreciation vis à vis USD recently has contributed its bit in the run up.

In addition, Indian iron ore mining mess (Authorities clamping down illegal mining, political game in Karnataka, probe in Mr Madhu Koda affairs) is also contributing to price rise on account of curtailed supplies. These factors would support current levels or lead to further increase.

Iron ore fines
FOB India

Change is on November 13th as compared to November 6th 2009

On the domestic front prices of iron ore at Barbil remained stagnant due to OMC pricing influence on market but prices gained substantially at Bellary Region due to restricted availability and higher FOB levels.

Barbil domestic

Change is on November 13th as compared to November 6th 2009

Bellary domestic

Change is on November 13th as compared to November 6th 2009

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. Please note that this is a paid service with subscription charges of USD 600 or INR 30,000 plus ST for 12 months.

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.

(Sourced from www.steelprices-india.com)

Spot prices of Indian iron ore have gained substantially in last week. Transactions for 63.5/63 grade are reported at USD 98 per tonne to USD 99 per tonne on CFR China port basis.

But the tone of the market is strong and it is estimated that USD 100 per tonne would be achieved by Indian sellers soon.

With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.

Iron ore fines
FOB India

Change is on November 6th as compared to October 30th 2009

Barbil domestic

Change is on November 6th as compared to October 30th 2009

Bellary domestic

Change is on November 6th as compared to October 30th 2009

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. Please note that this is a paid service with subscription charges of USD 600 or INR 30,000 plus ST for 12 months.

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.

(Sourced from www.steelprices-india.com)

Spot prices of Indian iron ore fines continued to gain last week amid tight supply conditions and buoyed by rebound in Chinese domestic steel prices.

The up cycle has lasted for 45 days so far and it is expected that it will continue through the month of November as well.

November and December prices in the swaps market continued to rise on the weekend backed by firm Cape FFA market. A few market participants believe freight has room to come up higher by the end of this year.

Iron ore fines
FOB India

Change is on October 30th as compared to October 23rd 2009

With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.

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. Please note that this is a paid service with subscription charges of USD 600 or INR 30,000 plus ST for 12 months.

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.

(Sourced from www.steelprices-india.com)

Bellary:

Change is on October 23rd 2009 as compared to October 16th 2009
In INR per tonne

Export:

Change is on October 23rd 2009 as compared to October 16th 2009
In USD per tonne
Delivery FOB Indian Port

The prime reason for this ruffle has been improvement in Chinese domestic steel prices since 16th October after an unbroken streak of decline for the last 75 days.

Rain hit mining operations and logistics along with loading delays had tightened supply of Indian iron ore to China thus supporting prices.

It was just when operators had given up and expecting for the worst some light is visible now.

The irony of China expected to add a whopping 120 million tonne of capacity in 2009, iron ore imports have been setting new records MoM touching a record 65 million tonne in September.

The sentiments are expected to remain buoyant for the time being as Chinese steel prices firm up.

With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, the pressure will be more in the spot market likely to keep the levels firm .

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. Please note that this is a paid service with subscription charges of USD 600 or INR 30,000 plus ST for 12 months.

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.

(Sourced from www.steelprices-india.com)