Indian iron ore spot prices remain firm last week

June 12, 2008

June 12th (Steel Guru) – The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last week on June 10th 2008

Delivery Price Change

Delivery Price Change
FOB Indian port USD 133-USD 140 None
CIF Chinese port USD 180-USD 187 None
     

The change is with respect to prices posted on June 2nd 2008

The CCCMC reference prices are average prices for import transactions of Fe 63.5% Indian iron ore concluded the week prior to issuance date of such reference prices. The reference price practice is intended to regulate the domestic trading of Indian iron ore and avoid speculation on the raw material for China’s booming steel industry.

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