Indian iron ore spot prices weaken further
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 September 16th 2008 as under.
| Delivery |
This week |
Last week |
| FOB Indian port |
110 to 120 |
118 to 125 |
| CIF Chinese port |
130 to 135 |
135 to 145 |
Price in USD per tonne
The change is with reference to that posted on September 8th 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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