SteelMint’s weekly low-grade Indian iron ore fines (Fe 57%) export index remained largely stable at $92/t FOB east coast India in the recent deals reported. Demand for low grade ore continues to remain weak in China with discounts for low-grade ore widening to 34-35%. Three deals have been recorded by SteelMint this week which have been concluded by Odisha based miners & traders.
India low-grade fines recent trades –
China’s Ministry of Finance announced a new policy to remove export
rebates for 146 steel products from 1st of May led to restrain iron ore
demand. VAT reduction stimulates to ease out supply shortage of steel
while discouraging steel exports. However, Chinese authorities indicate