Iron ore prices improves on concerns of approaching monsoon
Spot iron ore prices opened to a resounding gain of 1% on Monday The market sentiments has got charge up off late with the approaching monsoon in India wherein cargoes are being pushed in through west coast on concern of curtailed supply in the ensuing months. Remarkably the heat has been generated amidst lackluster buying by the mills who continue in circumspection with nearly 78 million tonnes stockpile at the Chinese ports. At the same time the enthusiasm generated after the slated opening of export from Karnataka seems to have petered out as the reality of protracted regulations and the gestation period before the actual products hit the market dawns. Despite all the tranquilizing factors traders kept the market agog with fervent buying to hedge against shortage. Moreover high-quality iron ore supply was still in tight supply.
Spot iron ore prices opened to a resounding gain of 1% on Monday The market sentiments has got charge up off late with the approaching monsoon in India wherein cargoes are being pushed in through west coast on concern of curtailed supply in the ensuing months.
Iron ore fines
FOB India
| Grade | % |
| Fe 63.5/63% | 1.3% |
| Fe 63.5/62.5% | 1.3% |
| Fe 63/62 % | 1.9% |
| Fe 62 / 61% | 2.0% |
| Fe 61 / 60 % | 2.9% |
| Fe 60/59 % | 3.0% |
| Fe 59 / 58 % | 3.2% |
| Fe 58 / 57% | 3.4% |
| Fe 57/56 % | 3.6% |
| Fe 56/55% | 3.9% |
| Fe 55/54 % | 4.3% |
| Fe 54/ 53 % | 4.8% |
| Fe 53/52 % | 5.5% |
| Fe 52/51 % | 8.1% |
Change is on April 11th as compared to 8th April 2011
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