India: Low-grade iron ore fines export index rises $2/t w-o-w

SteelMint's weekly Indian low-grade iron ore fines (Fe 57%) export index increased by $2/tonne (t) w-o-w to $72/t FOB east coast on 14 September, 2023. As per sources, one deal of 55,000 t was reported from the east coast at $85/t CFR China in this publishing window.

Another deal of 55,000 t (Fe55/56%) was also heard from the east coast at $65/t FOB Gopalpur to China this week. Iron ore export prices increased following the hike in global iron ore prices and improved market sentiments for low-grade iron ore. Steel-makers in China are currently restocking inventory ahead