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| Are Indian iron ore spot prices inching to USD 150 mark in China - 16 Mar, 2010 | ||||||||||||||||||||||||||||||||
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The pressure on Chinese steel mills of securing iron ore to feed their blast furnaces which are churning record volumes of hot metal to cater to huge appetite from Chinese domestic market, seems to have derailed the attempt to curb iron ore spot prices to get a better footing in negotiations. It is reported, hike in FOB levels by Indian miners coupled with surging freight rates, is propelling CFR China prices for Indian iron ore Fe 63.5%/63% to USD 145 per tonne levels. Now with mad scramble for resources, it seems that we should be looking at USD 150 mark soon. Indian FOB prices for different grades have surged by 6% to 18% in last 7 days. Iron Ore Fines FOB India
Change is as on March 15th as compared to March 8th 2010 To know the exact levels, utilize a special "Iron Ore Pricing" package from www.steelprices-india.com 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. Pricing information is updated as and when the levels change In addition domestic prices at Bellary and Burbil are reported. 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) | ||||||||||||||||||||||||||||||||
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