Indian iron ore spot prices remain firm last week
June 18, 2008
June 18th (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 12th 2008
Delivery Price Change
|FOB Indian port||USD 135-USD 140||None|
|CIF Chinese port||USD 180-USD 185||None|
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.