Indian iron ore spot prices up by USD 10

July 15, 2008

July 15th (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 July 14th 2008

Delivery Price Change
FOB Indian port USD 135-USD 155 Up by USD 10
CIF Chinese port USD 185-USD 190 None
     

The change is with respect to prices posted on July 7th 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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