ArcelorMittal, the world’s biggest steelmaker, declared that it was not purchasing any iron ore on a spot basis and all its ore purchases were based on traditional contracts. For full story, click here
The spot prices of Indian iron ore fines for exports surged by about 2% further on July 20th 2009. For full story, click here
Platts declared that Rio Tinto has continued to sell substantial volumes of iron ore on the spot market and that its bottom line could be hit by ongoing price negotiations with its Chinese customers. For full story, click here
With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as purchasers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities. For full story, click here
Platts declared that strong spot market iron ore and related freight activity has helped push Capesize iron ore freight rates on key routes to three-month highs as ship availability remains tight amid the steady offtake of vessels. For full story, click here
With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as purchasers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities. For full story, click here
BHP Billiton Ltd., the world’s leading mining company, sold 28 percent of its iron ore output at cheaper spot prices after customers deferred deliveries ahead of a forecast dip in contract prices. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
Iron ore spot price has declined to some USD 77 per tonne CIF as domestic steel price has gone back to the level in early December of 2008 after a short lived revive. Given contract iron ore price of USD 99 per tonne, the difference between contract price and spot price has widened to 30%. For [...]
The current spot price for iron ore with 63.5 percent of iron, ranged between $68-$72 per tonne FOB, the same as last week, but up by $4-$5 from a month ago, an official at the Federation of Indian Mineral Industries (FIMI) said. For full story, click here
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