Iron Ore Prices, News and Analysis. This marked the first decline after two consecutive weeks of growth. Mining activities being disrupted in Odisha—a key ore producing state. (Bloomberg) Iron ore integration to help drive Tata Steel’s prospects 2 min read. Notes: The OCE forecasts the FOB (free on board) Australia iron ore price, not the benchmark CFR (cost and freight) North China iron ore price. But output in May was still down year-on-year, it said. India’s steel output for May jumped more than threefold over the previous month, Morgan Stanley said in a report citing Joint Plant Committee’s data. Sunlight catches a freight train carrying iron ore from mine to port as it travels along a rail track. (Photographer: Ian Waldie/Bloomberg). The cyclically-sensitive Australian dollar seems poised to outperform its major counterparts in 2021, ... Data Source – Bloomberg. The materials sector lagged all day as iron ore prices retreated from speculation-driven highs and gold prices softened. Historically, Iron Ore reached an all time high of 200 in November of 2007. Find information about commodity prices and trading, and find the latest commodity index comparison charts. Shares of NMDC, however, closed about 3% higher on Monday in anticipation of a price rise and higher demand. Its high-grade output fetches a premium over the benchmark iron ore price. Iron ore prices surged 6% to $103.35 a tonne in Singapore on Monday, the highest since August 2019, on supply woes and concerns that surging Covid-19 cases in Brazil will disrupt … We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. The IODEX assessment is not origin specific, and takes into account ores with iron content between 60-63.5% Prior to 2012, the spot market saw Indian material traded most actively; this shifted, with Australia being the main source of spot medium grade fines material. NMDC has yet to respond to BloombergQuint’s emailed queries. According to JP Morgan, increase in output by steelmakers, iron ore exports from Odisha becoming profitable at current spot prices and higher sales by NMDC are expected to lift prices of the key raw material. Get updated commodity futures prices. The company has raised its notified price again in December by 12% for fines and 15% for lumps. That’s in contrast to the situation during December-March when production rose after merchants ramped up capacities ahead of mining leases’ expiry in March 2020. “We’re getting US$166 to US$167 per tonne,” said O’Keeffe. That compares with more than $150 a ton last week, it said in its update, amid surging demand in … Missing BloombergQuint's WhatsApp service? Australia stuck with a conservative iron ore price forecast in its latest budget update, even as prices surge, setting the country up for a windfall … View on bloomberg.com Dec 16, 2020 Demand picked up in the second half of this year, according to Bloomberg data, with China, the largest consumer, spending heavily on construction to rescue an economy that cratered in the wake of the pandemic. According to steel mint data, Indian pellet export prices have risen to a seven-year high of $170 per tonne FOB India. Flats and long products witnessed a growth of 163% and 124% at 9.05 lakh tonnes and 2 lakh tonnes, respectively. Iron Ore 62% Fe, CFR China (TSI) Swa price information, historical data, charts, ... LNG prices hit record as cargo shortage amplifies cold weather effect Jan 07 2021; ... Bloomberg Commodity Index: 79.66-0.82%: Data delayed at least 10 minutes, as of Jan 08 2021 20:55 GMT. Home > Commodity Prices > Iron Ore. Iron Ore Monthly Price - US Dollars per Dry Metric Ton. This may limit the rally for iron ore industry which was able to pass on price hikes to steel makers till now, resulting in higher costs to buyers. Besides, Indian steel mills have been witnessing narrowing spreads—difference between selling price and cost—on higher export volumes. Also, domestic iron ore prices are trading at a discount to international prices, which rallied more than 20% in last two months. But as restrictions are eased, steelmakers are gradually ramping up production. Historical Prices. This statistic shows the average commodity price for iron ore from 2003 to 2019. “[We] expect domestic iron ore prices to improve 30-40% over next the two-three months.”. Join our. In 2019, iron ore was worth an average of approximately 93.85 … Prices have also increased in December. Rakesh Arora, market expert, said it’s the sellers’ market with supply normalcy some time away and the sharp shortages in India and abroad aiding the iron ore rally. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. Bloomberg | Quint is a multiplatform, Indian business and financial news company. Analysts expect NMDC to be in a strong position to implement further hikes given the difference between Odisha prices. Range. Sustained steel demand, globally as well as in India, has been among the factors contributing to rise in iron ore prices. In December, iron ore prices jumped a nine-year high of $172 per tonne after gaining nearly 80% during the year. “I mean, that allows us to just print money. 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