Indian iron ore export to China fall sharply
Iron ore exports at Indian ports have fallen sharply due to lack of demand from China. In the meantime, their prices slide to below $100/t fob India. In major ports such as Mormugao, Paradip, Visakhapatnam and Haldia, Iron ore loading volumes have decline by 20-75%. In the other hand, iron ore inventory in Chinese major ports increase to 60 million tonnes because many Chinese mills forced to cut output or even stop production during the Olympic Games in Beijing. Currently, price of Indian 63.5% Fe fine in China port are below $120/t level.
No comments:
Post a Comment