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Spot iron ore price tightens to $127-129 cfr

February 08, 2010 - 08:27 GMT Location: Shanghai

China's iron ore import prices are at $127-129 per tonne cfr for 63.5% Fe grade, amid sparse business as Chinese customers prepare for the Chinese New Year holiday next week.

"Indian miners' offer have further increased their offers, from $128-130 per tonne in late last week to $131-132 per tonne, but there's little buying going on," a Rizhao-based trader said. Most market participants said Indian miners are sticking to their offers, but there have still...

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Comment & analysis

COMMENT: Keep calm and carry on?

The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?
TREVOR TARRING: The baby and the bathwater

“Don’t throw out the baby with the bathwater” is a well-known adage.
MAN OF STEEL: The only way is down

Bleak news wherever we look. We see examples of low prices for all steel products being achieved in China, India, Brazil, the USA and Europe. The Russian market is weak and the CIS mills are now eyeing all export markets to get rid of serious tonnage.