India low-grade fines export index up around $8/t w-o-w
Jan 11, 2021 11:00
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SteelMint's weekly low-grade Indian iron ore fines (Fe 57%) export index increased by $7.5/t this week and stands at $99/t FoB east coast India. Decline in Chinese iron ore port-side inventories, hike in spot iron ore prices in China and some amount of restocking by mills ahead of spring festival have kept prices supported.
"Some miners are targeting
$115-118/t CFR China levels for Fe 57% fines, but considering the
discount on Indian low-grade fines, these offers look high", commented
an eastern India-based market participant.
Price indicators -One
confirmed trade booked early this week was reported for mid-Jan'21
laycan at $106/t CFR China but it was