Copying and distributing are prohibited without permission of the publisher

Spot iron ore unchanged $150-151 cfr

September 02, 2010 - 10:07 GMT Location: Shanghai

Spot prices for 63.5% Indian iron ore stood unchanged at $150-151 per tonne cfr Chinese ports on Thursday, as Indian suppliers refused to lower offers despite little buying interest from Chinese mills.

"Offer prices still range from $151-154 cfr, and there are very few offers below $150,” said an Indian iron ore trader in Tianjin. "Actually we are not giving out offers at the moment, now that Chinese buyers have shelved their purchasing plans,” he added. “Indian suppliers would rather wait for a while than make...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Iron Ore & Coking Coal

May 22, 2012 08:47 Spot 63.5% Fe iron ore prices rest at $138-139 cfr
May 22, 2012 08:23 Attila looks for coking coal in USA
May 22, 2012 06:26 Vale plans second Asian iron ore transfer station
May 22, 2012 04:58 FACTS: China’s steel raw material imports mixed in April
May 21, 2012 17:52 IRON ORE DERIVATIVES WRAP: SMX futures set record daily highs

Comment & analysis

COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.
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?