Iron Ore prices for Spot Shipments, Sept 2011
September 13th 2011 20:27
Spot Iron Ore prices are stable as per the international view. The Iron Ore of Fe 63.5% was stable at USD 190/MT in China. The tight supply of iron ore from India will certainly help in handling any major crash of iron ore prices.
Most of the steel mills are not showing much interest in purchasing iron ore for US$ 190/MT in China. There are very less chances of any price crash in coming days due to the shortage of supplies from India for Iron Ore. The impact of the monetary tightening is visible on steel industry in China.
The spot offer of iron ore has gone up by 8 percent due to the ongoing monsoon in the western part of India and the other major reason is the ban on mining in Karnataka.
Some major steel producers in China have raised the prices of their products after getting the fresh demand of steel from auto market and house appliance industry. The price of US$ 190.MT for 63.5/63 percent of Iron Ore of India Origin has maintained and stable from past one week.
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