Chinese steel mills and traders have been accelerating their iron ore purchases with the belief that iron ore market, which had been trending downward for a while, has reversed its trend. Therefore, improved demand has pushed up the prices of iron ore. Current prices are as follows:
SteelOrbis has learned from market sources that the price for Australian PB fines with 61.5 percent iron content is at $109-110/mt CFR, while the price of Indian fines with 63-63.5 percent iron content is at $111-113/mt CFR. In the meantime, the current price of Brazilian Carajas fines with 66 percent iron content is $120-122/mt CFR. All above price ranges have indicated an increase of $11-13/mt as compared to last week.
Iron ore prices increase in China
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Iron Ore Raw Mat India Brazil China Australia East Asia and Pacific Far East South America Indian Subcon South Asia Oceania Steelmaking