China's steel enterprises indifferent Iron ore prices up

Tuesday June 29,2010

Spot steel prices fall and the international iron ore prices, many domestic steel enterprises imported iron ore in the traditional way of drastic decrease desire.

    "Sha Steel has done stand, if the international iron ore price more than 160 U.S. dollars / tons, import is more difficult," the industry source said.

    Although the Chinese stock market, sluggish demand for steel, but the international three mines in the third quarter price increase on spot ore prices play a support, the recent stabilization of the spot price of iron ore once again, as of last Friday, the Indian mineral content of 63.5% on Chinese export prices remain at 152 ~ 153 U.S. dollars / ton. Port grade iron ore at 62% of the transaction price at 1,160 yuan / ton, according to two informed the Japanese steel companies expand the three-quarter iron ore FOB price of 147 U.S. dollars / tonne basis, the CIF will be 1,200 yuan / ton about.

    China's domestic steel market, short term spending is still weak, and some steel mills that do not want to order more than 152 U.S. dollars / ton price of purchase, the supplier's price change in India is also large, typically 153 to 155 U.S. dollars / ton. But the Australian iron ore suppliers BHP Billiton and Rio Tinto has informed the Japanese steel mills in the third quarter price increase of 23%, prices of China's quarter will have the same magnitude of increase.

    Indian origin for the iron content of 63.5% iron ore price with shipping costs 154 U.S. dollars per ton, higher than the U.S. dollar last week's 152-154.

    This week 62% of the spot iron ore steel index held steady, Wednesday to 143.10 U.S. dollars.

    Southern India about large international trading company, traders said, "rumors of small traders, particularly from Hong Kong to speculative buying by traders."

    Orissa, said an exporter from India to the east coast of China's major shipping ports in the price steady in the week before, in  and studied the cost of a single port of shipment 18 U.S. dollars per ton.

    Haldia and Paradip Port in the port of shipment costs two dollars per ton, 21-22.

    However, due to slowdown in the level of activity, international freight price weakness.

    Baltic Dry Freight index fell 4.21%, to 2,893 points, the lowest since April 2 level.

    By the annual monsoon influence, 9 months ago, India's exports of iron ore for the number is relatively small.

    According to Chinese steel prices net understanding of the domestic iron ore market deserted volume scarce! As weak demand for steel products downstream. And steel prices have been dropping, the current international market prices of iron ore, steel prices in China remain indifferent, but for cold watching the situation; and steel prices also intends to further reduce the iron ore price.