India Steel Market Watch
October 1: Spot iron ore offers stretched their losses as demand in China is expected to weaken amid a deepening economic slowdown.
The fundamentals of iron ore and steel are also weakening further, while iron ore shipments from top miners rose, sources said.
The declining steel market was evident from the drop in rebar futures on the Shanghai Futures Exchange.
Iron ore for immediate delivery to China's Tianjin port stood at $55 a ton.
Following are prevailing iron ore offers in international markets:
Grade % Fe |
Origin |
Product |
load port |
destination |
Oct 1, 2015: cfr ($/ton) |
Sept 30, 2015: cfr ($/ton) |
Sept 29, 2015: cfr ($/ton) |
63.5/63 |
India |
Fines |
Vizag |
Qingdao |
55 |
56 |
56 |
62 |
India |
Fines |
FOB Vizag |
|
23 |
24 |
24 |
62 |
Australia |
PB |
Dampier |
Tianjin |
55 |
56 |
56 |
63.5 |
Brazil |
Fines |
Brazil |
China |
57 |
58 |
58 |
Source: Traders