News Room - Steel Industry

Posted on 22 Nov 2007

Iron ore import price coming down in China

Pushed by iron ore import price rise, spot ore prices at ports stay at high level, with price quotation of Indian 63.5% ore at CNY 1480 per tonnes to CNY 1500 per tonnes, that of Australian 63% ore at CNY 1500 per ton and that of Brazil 65% ore at CNY 1600 per tonnes.

 

China steel companies can hardly accept these ceiling prices, thus transaction at ports turned weary. Stocks at seaports rise to 42 million tonnes up from 40.4 million tonnes in the middle of last month.

 

Nowadays, some traders started to cut price quotation with Indian ore 63.5% priced at CNY 1450 per tonne to CNY 1470 per tonne and they are also sitting on their hands for oversea price offers. Current offshore price from Indian also declined USD 5 per tonne to USD 10 USD per tonne to USD 188 per tonne to USD 193 per tonnes