News and Events

Iron ore prices drops by 10% in India

The falling Iron ore prices in China and slow demand after the Japanese earthquake and 20% increase in India’s export duties are some of the factors for the drop in prices of Iron ore. This downward trend was reported by the Future trading market of Multi Commodity Exchange of India (MCX).

Further the prices of Indian Iron ore have dropped by 10 % to 15 % from the middle of February 2011 to the middle of March 2011. Currently the good qualities of iron ore are sold at US$160/ton. Traders predicted that the prices would drop further by US$10/ton to US$150/ton by the end of March 2011.