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CII suggests measures to achieve $500 exports target by FY'15

It is reported that the spot prices of iron ore have continued increasing recently. At present, the spot prices of Indian iron ore fines contain 63.5% Fe have surged to US$150~US$153/ton C&F, up by US$1~US$2/ton from the previous quotes of US$149~US$151/ton C&F.

Besides, the spot prices of iron ore have increased by US$4/ton in this week, spot iron ore prices fell to over-one-week low on Friday, citing the thin demand from China, the world’s biggest steel producer and consumer.

Australian 61.5-percent Pilbara iron ore fines was offered at CFR US$141~US$143/ton, 58-grade Yandi fines are at US$128~US$131/ton and Indian 63.5/63-grade fines are at US$148~US$150/ton.

Due to the depressed steel prices and the seasonal reason, China’s iron ore import fell by over 7% from a month earlier in January.