India: Low-Grade Iron Ore Fines Export Price Down Amid Global Price Fall

According to the market sources report SteelMint that fallen in global iron ore fines price Indian low-grade iron ore fines (Fe 57%) export prices have also decreased.

Indications from the market for low-grade fines export price up at around USD 55-57/MT, CFR China against USD 58-60/MT, CFR China last week.

Spot iron ore prices decreased sharply-: Chinese spot iron ore prices (Fe 62% fines) increased yesterday (i.e 20th Sep’19) at USD 91.6/MT, CFR China. The prices were down as against USD 99.1/MT, CFR China a week ago. Spot Index decreased by USD 7.5/MT on weekly basis. Prices moved down amid sluggish demand.

As per data compiled by SteelHome consultancy, Iron ore inventory at major Chinese ports stands at 124.1 MnT this week as compared to 124.9 MnT a week ago.