Rising Prices of Iron Ore
November 25th 2011 19:34
The Iron Ore market is gaining strength under the tight supplies from the iron ore exporting countries. This upward trend will not lose the ground now. The Iron Ore has gained a good market in past few weeks due to high demands. The market stocks are not available and the supply seems to be limited.
In India, the domestic market is providing better prices than the exports. On the other hands the new rules and regulation along with the latest mining bill can make the miners interested in limiting supplies to the domestic markets. The Governments crack down on illegal mining also can be another reason for tight supply for exports.
Some traders even are holding stocks in expectation of reaping good prices since the market is rising. The traders are holding the stocks and taking the risk and decided to sell the cargo when the market price is at its highest.
Due to the high prices of railway freight and logistics and other tariffs in India, the exporters are showing no interest in exporting and supplying from India.
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