Indian iron ore spot prices this week

July 31, 2008

July 31st (Steel Guru) – China Chamber of Commerce of Metals, Minerals and Chemicals Importers & Exporters has released the average reference prices for import transactions of ferrous 63.5% Indian iron ore concluded last week on July 28th 2008 as under

Delivery This week Last week
FOB Indian port 136 to 140 135 to 143
CIF Chinese port 180 to 188 182 to 199
     

Price in USD per tonne
The change is with reference to that posted on July 21st 2008

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. The China Chamber of Commerce of Metals, Minerals and Chemicals Importers & Exporters are the largest trading association in China.

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