Indian low Fe fines export interest ebbs on lower prices
Sep 21, 2020 10:00
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SteelMint's weekly low-grade iron ore fines (Fe 58/57%) FOB India index stable today at $78/t FOB India in the recent deals concluded. SteelMint's last week index stood at $78/t FOB India. After decent deals of around five shipments being reported early this week, sentiments have softened following a steep decline in the Chinese futures & spot prices. In addition to it, upcoming holidays in China are likely to keep demand slow.
Rationale:The index has been calculated using an average of T1 and T2 price inputs. Transactions confirmed by either a buyer/seller are designated as T1 input while bids, offers, and indicative prices are designated as T2 inputs. Both T1 and T2 categories of inputs carry 50% weightage each in price calculation