UTC+8 ( BJT)

India low-grade Fe index falls on global price correction

SteelMint's weekly low-grade iron ore fines (Fe 58/57%) FOB India index fell by around $6/t amid sharp fall in global iron ore fines index. SteelMint's current assessment stands at $72/t FOB east coast India. Three deals have been reported earlier this week, however, later fines export market turned silent.
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

............

To read the full article take a free 7-day trial to Mysteel Global

FREE TRIAL
+65 6653 8227