Spot prices rise for Indian iron ore fines

February 12, 2009: China has announced average reference prices for import transactions of Indian iron ore Fe 63.5 percent, which finished on February 9.

The prices for delivery fob India port were $71 to $74 for the week, up from $68 to $72 for the previous week. Prices for delivery cif Chinese ports were $84 to $85 for this week. This was against $80 to $84 in the February 2 week, according to a report quoting the China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters.

The reference prices are the average for imports of Fe 63.5 percent Indian iron ore concluded the week before such reference prices are released.

Source: Steel Insights Bureau