After dropping sharply in previous weeks, import iron ore prices in China had started to move up since early this week and registered an increase of $10/mt during the first three days of this week. However, yesterday, September 13, and today, September 14, the prices in question have weakened by $2-3/mt. Current import iron ore prices in China are indicated below.
SteelOrbis has learned from market sources that the price for Australian PB fines with 61.5 percent iron content is at $97-98/mt CFR, while the price for Australian Yandi fines with 58 percent iron content is standing at $86-87/mt CFR. Both price ranges have indicated an increase of $7-8/mt as compared to last week.
In the meantime, SteelOrbis has further learned that the price of Indian fines with 63-63.5 percent iron content is at $100-102/mt CFR, rising by $7/mt since last week, while the price of Indian fines with 61-62 percent iron content has moved up by $6/mt over the same period and is currently at $94-96/mt CFR.