Imported iron ore market,improved by 2%breaking 10 days hiatus.The prices of raw materials went up while,prices of steel products kept stable,indicating a typical sign of rebound.
Increased steel production touching 1.9599 million tonne per day of crude steel in late November has nudged mills to indulge in buying interest off late.
Offers and bids flew aplenty in the market.Even though physical transactions were not commensurate sentiments remained strong.Notwithstanding that most of the mills have already stocked for the winter pre Lunar Holiday hike seems to spur market.
Taking a cue from improved PMI in November at 50.4 touching 0.4 high over October reared ahead with production.Improved manufacturing data augurs well for the steel market in general and flat market in particular.
Speed of consumption is evident by w-o-w decline by 2.83 million tonne of iron ore stocks at main Chinese port.Current stocks at 77.83 million tones is a normal compared to the 3 figures stocks till couple of months back.
Iron Ore Fines
FOB India
| Grade | Change |
| Fe 63.5/63% | 1.8% |
| Fe 63.5/62.5% | 1.9% |
| Fe 63/62% | 1.9% |
| Fe 62/61% | 1.9% |
| Fe 61/60% | 2.0% |
| Fe 60/59% | 2.1% |
| Fe 59/58% | 2.2% |
| Fe 58/57% | 2.2% |
| Fe 57/56% | 2.3% |
| Fe 56/55% | 2.4% |
| Fe 55/54% | 2.6% |
| Fe 54/53% | 2.7% |
| Fe 53/52% | 2.8% |
| Fe 52/51% | 2.9% |
