Iron Ore Market Report April 2011
2011-11-28 18:03:30 【Print】
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Early this month, the market of iron ore runs quiet due to the national holiday, Tomb Sweeping Day. The price of the raw material keeps increasing. This week, domestic iron ore suppliers lift the iron ore quotation by RMB20-40/t, and in view of the increasing steel price and tight supply, iron ore mines keep optimistic about the market. For imported iron ore market, the price keeps high. The price of Indian iron ore fines 63.5% ever reaches USD188-191/t, while it was USD172/t half one month ago. Meanwhile, the market trade remains inactive. However, with the price hike, at the middle of this month, mills purchase the raw materials cautiously, and the price gradually stops increasing.
In the last ten days of this month, the price of iron ore fines has run on a downward trend in the northern part of China. Some mills decrease and bid due to the volatile steel market. However, the price runs relatively stable in the southern part of China. For the imported iron ore, the price of iron ore moves down because of the weak demand. For instance, the price of Indian iron ore fines 63.5% decreases to USD185-186/t from USD191/t CFR. Late this month, the price of steel stops decreasing, and the inquires increase. Meanwhile, the quotation of the material moves up slightly. However, mills purchase cautiously because the steel market has not become stable.
In the last ten days of this month, the price of iron ore fines has run on a downward trend in the northern part of China. Some mills decrease and bid due to the volatile steel market. However, the price runs relatively stable in the southern part of China. For the imported iron ore, the price of iron ore moves down because of the weak demand. For instance, the price of Indian iron ore fines 63.5% decreases to USD185-186/t from USD191/t CFR. Late this month, the price of steel stops decreasing, and the inquires increase. Meanwhile, the quotation of the material moves up slightly. However, mills purchase cautiously because the steel market has not become stable.
