India low-grade Fe index falls on global price correction
Sep 28, 2020 11:00
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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