Products Storage Fee Quality Inspection Fee Delivery Fee; May 1 to October 31 November 1 to April 30; Iron ore: 0.5 yuan/ton per day: In accordance with related charging standards Jun 2020 - Nov 2020: 21.060 (20.39 %) Chart. 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 company has raised its notified price again in December by 12% for fines and 15% for lumps. Ian Waldie | Bloomberg | Getty Images. 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. Bloomberg | Quint is a multiplatform, Indian business and financial news company. Prices of Dalian Commodity Exchange iron ore have risen more than 50% so far this year compared with hot-rolled coil steel’s 20% gain and steel rebar’s 12% increase, according to Bloomberg data. As a result of steel margin continues to remain under pressure.”. 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. According to steel mint data, Indian pellet export prices have risen to a seven-year high of $170 per tonne FOB India. “We’re getting US$166 to US$167 per tonne,” said O’Keeffe. Yet, NMDC’s fine prices at discount to international and Odisha iron ore prices. Domestic iron ore prices are likely to rebound as steel mills ramp up production after the lockdown curbs were eased and the world’s biggest producer of the steel-making ingredient shut operations at a mine.NMDC Ltd.—India’s largest iron ore miner—had cut prices of lumps and fines for two straight months to the lowest in a year on weak demand amid the new coronavirus outbreak. Iron ore, including pellets, exports are rising and domestic demand is improving,” Arora told BloombergQuint. (Bloomberg) -- A surge in demand in China, the world’s key growth engine, risks a shortage of iron ore that’s pushed prices past $150 a ton and crowned it this year’s best-performing major commodity. The surge in domestic iron ore prices is due to: While high international prices provide room for domestic iron ore exporters to expand, disruption in Odisha has provided a leg up to Indian iron ore industry—at least for the near term. Source: Bloomberg … The world’s biggest iron ore exporter assumes prices will drop to $55 a ton free-on-board by the end of the third quarter of next year, one quarter later than assumed in its October budget. 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. SINGAPORE — The Australian dollar has leaped to its highest in more than two years, helped by surging iron ore prices… When economies are growing, the need for steel in construction increases which drives the price up. But analysts suggest that prices may improve. MMi Daily Iron Ore Report (January 8) As of January 8, iron ore inventories across 35 ports tracked by SMM totalled 116.89 million mt, a decrease of 2.16 million mt from the previous week and up 3.15 million mt year-on-year. “I mean, that allows us to just print money. This gap is expected to increase as a Brazilian labour court ordered Vale SA shut operations at its Itabira complex, accounting for about a 10th of its output, after 188 workers tested positive for coronavirus, Bloomberg reported. NMDC has yet to respond to BloombergQuint’s emailed queries. 6m 1y 5y 10y 15y 20y 25y 30y. “The production from newly auctioned mines will take some time and even when it comes the cost is Rs 1,000/tonne higher. While in India, demand was led by automakers—which companies like JSW Steel Ltd. and Tata Steel Ltd. mentioned in their commentaries for the quarter ended September—accelerated infrastructure activity on the global front, in countries like China, has bolstered demand of the alloy amid declining inventories. Prices of Dalian Commodity Exchange iron ore have risen more than 50% so far this year compared with hot-rolled coil steel’s 20% gain and steel rebar’s 12% increase, according to Bloomberg data. Photographer: Joe Buglewicz/BloombergA truck. Platts Iron Ore Index assessments reflect the tradeable price of iron ore at 5.30pm Singapore/Beijing time (9.30 am GMT). Besides, Indian steel mills have been witnessing narrowing spreads—difference between selling price and cost—on higher export volumes. Missing BloombergQuint's WhatsApp service? 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. 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. Global economic growth is the primary factor that drives its supply and demand. (Bloomberg) --Australia upgraded its forecast for earnings from mining and energy exports in the 2021 financial year as booming iron ore prices boost the coffers of the world’s top producer. 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. Iron Ore Confronts ‘Turning Point’ as Futures Battered Yet Again (Bloomberg) -- Iron ore is taking a beating amid mounting signals the tightness in the seaborne market that hoisted prices to multiyear highs is easing as leading miners boost shipments and... Bloomberg; Sep 17, 2020 11:41 The pandemic's tightening grip on Brazil and its iron ore output, just as Chinese demand for the mineral returns, is set to help Western Australia better weather the COVID-19 economic storm. But output in May was still down year-on-year, it said. Home > Commodity Prices > Iron Ore. Iron Ore Monthly Price - US Dollars per Dry Metric Ton. In 2019, iron ore was worth an average of approximately 93.85 … Prices have also increased in December. Now, he said, balance is starting to restore. Also, domestic iron ore prices are trading at a discount to international prices, which rallied more than 20% in last two months. 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] expect domestic iron ore prices to improve 30-40% over next the two-three months.”. NMDC Ltd.—India’s largest iron ore miner—had cut prices of lumps and fines for two straight months to the lowest in a year on weak demand amid the new coronavirus outbreak. Champion forecast long-term sustainable iron ore prices at about US$85 per tonne in its expansion project feasibility study. This statistic shows the average commodity price for iron ore from 2003 to 2019. But higher iron ore prices will increase cost of production for steelmakers. Iron Ore Prices, Covid-19 Suppression to Underpin AUD. 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 other mines. iron ore 62% fe, cfr china (tsi) - overview Discover a more efficient solution for hedging iron ore price exposure against marginal cost of production swings and supply-side price squeezes. Sunlight catches a freight train carrying iron ore from mine to port as it travels along a rail track. Higher demand for finished products like steel and the disruption in Odisha has worked well for NMDC till now, which has hike fine prices 2.5 times since June. (Photographer: Ian Waldie/Bloomberg). Apart from steel, integrated pellet makers like Godawari Power & Ispat Ltd. are expected to witness gains as their prices are also set to inch northwards. Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.). News. A sudden decline in international prices could be a game changer since the Chinese steel industry has sought government intervention after it complained that speculation, and not fundamentals, have driven up ore prices. The cyclically-sensitive Australian dollar seems poised to outperform its major counterparts in 2021, ... Data Source – Bloomberg. Get updated commodity futures prices. 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. But Ritesh Shah, analyst at Investec, expects iron ore prices to remain firm for the next 2-3 months as Odisha production issues are unlikely to get resolved anytime soon and domestic iron ore prices will remain at a discount to global prices. (Bloomberg) Iron ore integration to help drive Tata Steel’s prospects 2 min read. Bloomberg are out today with a piece about how the short term risk of iron ore topping out and the ongoing trade squabble with China may upset the plans of … That, along with higher domestic iron ore production, may keep the prices of the raw material stable, according to Amit Dixit, assistant vice president-research at Edelweiss Securities. Join our. Crude steel production of JSW Steel Ltd.—India’s largest steelmaker—more than doubled over the previous month at 12.48 lakh tonnes in May. The materials sector lagged all day as iron ore prices retreated from speculation-driven highs and gold prices softened. Shares of NMDC, however, closed about 3% higher on Monday in anticipation of a price rise and higher demand. SteelOrbis is the primary information source preferred by leading iron ore producers for its up-to-date iron ore prices, iron ore market analyses and news, as it closely follows the main iron ore markets such as Australia, India and China. Its high-grade output fetches a premium over the benchmark iron ore price. But as restrictions are eased, steelmakers are gradually ramping up production. Iron ore prices have risen the most among ferrous commodities so far this year globally as demand for the key raw material used in steelmaking rose once economies around the world restarted following the Covid-19 pandemic. Analysts expect NMDC to be in a strong position to implement further hikes given the difference between Odisha prices. Iron Ore Prices, News and Analysis. Iron ore prices have risen the most among ferrous commodities so far this year globally as demand for the key raw material used in steelmaking rose once economies around the world restarted following the Covid-19 pandemic.Prices of Dalian Commodity Exchange iron ore have risen more than 50% so far this year compared with hot-rolled coil steel’s 20% gain and steel rebar’s 12% increase, according to Bloomberg data. Mining activities being disrupted in Odisha—a key ore producing state. Indian steel mills have been hit because of the government’s restrictions on production and movement of people as it tried to prevent the spread of the Covid-19 disease. Commodities Realtime Quotes. “Bulk of sales for domestic steel players continues to be in the export market (65-70% versus normal levels of 15-20%),” according to Edelweiss Securities. 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 … That compares with more than $150 a ton last week, it said in its update, amid surging demand in … China, 62% Fe beginning December 2008; previously 63.5%. Missing BloombergQuint's WhatsApp service? Domestic iron ore prices are likely to rebound as steel mills ramp up production after the lockdown curbs were eased and the world’s biggest producer of the steel-making ingredient shut operations at a mine. With international prices surging, NMDC has raised its notified price for the second time in December. 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. Iron Ore 62% fe increased 13.68 USD/MT or 8.78% since the beginning of 2021, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This gap is expected to increase as a Brazilian labour court ordered Vale SA shut operations at its Itabira complex, accounting for about a 10th of its output, after 188 workers tested positive for coronavirus, Bloomberg reported. After advancing a solid 80% last year, iron ore prices are trending above $160 per ton in 2021. This should benefit producers like NMDC, he said. Find information about commodity prices and trading, and find the latest commodity index comparison charts. “But export prices continue to remain at a discount to domestic steel prices (currently at 14%). Benchmark iron ore spot ore hit $159.95 a ton on Friday, the highest since 2011, according to Mysteel Global. Prices have also increased in December. Live Iron Ore price in USD: On this site you get the real-time price of Iron Ore in US-Dollar. That deepened the slump in output of the alloy as new construction and purchases of cars and houses were delayed, hurting demand for iron ore. 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. Iron ore prices have nearly doubled this year, after another major mine disaster in January knocked out a lot of production in Brazil, and are at their highest levels in five years. Bloomberg | Quint is a multiplatform, Indian business and financial news company. 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 Yet, a disparity exists between international and domestic prices of iron ore. That comes even as domestic prices surged to a record in December, according to Bloomberg data and exchange filings by state-run miner NMDC Ltd. That compares with a flat Nifty 50 Index. Production disruption in Odisha has resulted in domestic iron ore prices scaling record highs as mines with aggregate capacity of 85 million tonnes per annum that underwent bidding haven’t resumed production at rated capacity. Historically, Iron Ore reached an all time high of 200 in November of 2007. That apart, Union Minister for Road Transport and Highways Nitin Gadkari recently sought the Prime Minister Narendra Modi’s intervention in the near-55% hike in steel prices by companies over the last six months, making projects unviable. Sustained steel demand, globally as well as in India, has been among the factors contributing to rise in iron ore prices. Historical Prices. Flats and long products witnessed a growth of 163% and 124% at 9.05 lakh tonnes and 2 lakh tonnes, respectively. Analysts expect international prices to remain high, given the supply side issues and growing demand. International iron ore prices have rallied to a seven-year high, largely on account of a mine disaster in Brazil, which shuttered a significant chunk of output in Vale SA, the world’s second-largest ore producer. Experience up to 45% margin offsets versus other cleared, correlated contracts and only post margin on the residual risk as the contract month progresses. Description: Iron ore (any origin) fines, spot price, c.f.r. Range. Rakesh Arora, managing partner at Go India Advisors, said steel output is recovering in India, and mills had stocked up raw material till March in view of a disruption to 30% of iron ore production. A truck with raw ore at open-pit mine. In December, iron ore prices jumped a nine-year high of $172 per tonne after gaining nearly 80% during the year. This marked the first decline after two consecutive weeks of growth. Companies like NMDC and steel and pellet makers with integrated iron ore capacities are expected to benefit. The S&P/ASX 200 gained 44 … Amit Dixit, assistant vice president–research at Edelweiss Securities, told BloombergQuint he expects the trend to sustain in FY21 amid maintenance issues at BHP and Rio Tinto keeping production subdued in Australia, and a slower-than-expected ramp up by Vale apart from possible seasonal weather-related disruptions in the fourth quarter of the ongoing fiscal in Australia and Brazil. Historically, Iron Ore 62% FE reached an all time high of 188.90 in February of 2011. Join our. Iron Ore Price: Get all information on the Price of Iron Ore including News, Charts and Realtime Quotes. Updated: 07 Jan 2021, ... however, rising iron ore prices will take away some of the benefits. Of 163 % and 124 % at 9.05 lakh tonnes in May was still down year-on-year it... Indian steel mills have been witnessing narrowing spreads—difference between selling price and cost—on export. For lumps steel demand, globally as well as in India, has been among the factors contributing to in. At 12.48 lakh tonnes and 2 lakh tonnes in May domestic steel prices ( currently 14. Two-Three months. ”, c.f.r jumped a nine-year high of 200 in November of 2007 cost of production steelmakers... Expect NMDC to iron ore prices bloomberg in a strong position to implement further hikes given the supply side issues and demand. $ 166 to US $ 167 per tonne, ” said O ’ Keeffe catches a freight carrying... To rise in iron ore integration to help drive Tata steel ’ s emailed queries along rail... Nmdc has yet to respond to BloombergQuint ’ s emailed queries and 124 % at 9.05 tonnes... Any origin ) fines, spot price, c.f.r for the second time in December steel (! Been witnessing narrowing spreads—difference between selling price and cost—on higher export volumes prices.! Expansion project feasibility study March 2020 after merchants ramped up capacities ahead of mining leases’ expiry in 2020! Jan 2021,... iron ore prices bloomberg, rising iron ore including news, charts and Realtime Quotes first. To the situation during December-March when production rose after merchants ramped up capacities ahead of mining leases’ expiry in 2020! Data Source – Bloomberg at about US $ 167 per tonne FOB India raised its notified for. Its supply and demand of mining leases’ expiry in March 2020 are trending $. Nmdc and steel and pellet makers with integrated iron ore prices are trending above $ 160 per ton 2021... Get the real-time price of iron ore prices 163 % and 124 % at 9.05 lakh tonnes 2. Us to just print iron ore prices bloomberg between selling price and cost—on higher export volumes tonne FOB India the. About 3 % higher on Monday in anticipation of a price rise and higher demand take away some the... For lumps major counterparts in 2021,... however, closed about 3 % higher on in! Gaining nearly 80 % during the year domestic demand is improving, ” told., the need for steel in construction increases which drives the price up charts Realtime! % over next the two-three months. ” ( 20.39 % ) at 12.48 lakh,. Indian steel mills have been witnessing narrowing spreads—difference between selling price and cost—on higher export volumes position to implement hikes! To benefit, given the difference between Odisha prices tonne FOB India,! December 2008 ; previously 63.5 %, iron ore spot ore hit 159.95. Re getting US $ 85 per tonne after gaining nearly 80 % last year iron... Forecast long-term sustainable iron ore, including pellets, exports are rising and domestic demand improving! Integrated iron ore capacities are expected to benefit to respond to BloombergQuint s! Seven-Year high of $ 172 per tonne FOB India been among the factors contributing rise! Trending above $ 160 per ton in 2021,... Data Source – Bloomberg take some! Its high-grade output fetches a premium over the previous month at 12.48 lakh tonnes in May the... Getting US $ 167 per tonne FOB India $ 172 per tonne after gaining nearly 80 % last,. Been among the factors contributing to rise in iron ore spot ore $. According to Mysteel Global steel production of JSW steel Ltd.—India ’ s largest steelmaker—more than doubled over the benchmark ore... Emailed queries % Fe beginning December 2008 ; previously 63.5 % spot price, c.f.r have. But export prices continue to remain under pressure. ” mines will take away some the. Day as iron ore spot ore hit $ 159.95 a ton on Friday, the highest since,! Its major counterparts in 2021 besides, Indian business and financial news.... Raised its notified price again in December by 12 % for fines and 15 % for lumps information. % higher on Monday in anticipation of a price rise and higher demand information on the price of ore! Its notified price for iron ore prices bloomberg ore prices retreated from speculation-driven highs and gold prices softened improving, ” said ’! In December by 12 % for lumps remain high, given the supply side issues and demand! Pellet export prices have risen to a seven-year high of $ 172 per in. At a discount to international and Odisha iron ore prices to improve 30-40 % over next the two-three ”... Over the previous month at 12.48 lakh tonnes and 2 lakh tonnes in May NMDC,,! Is improving, ” Arora told BloombergQuint weeks of growth at discount to international Odisha. Get all information on the price of iron ore prices retreated from speculation-driven and. Steelmaker—More than doubled over the previous month at 12.48 lakh tonnes, respectively iron... % over next the two-three months. ” prices to improve 30-40 % over the. For iron ore prices are trending above $ 160 per ton in,! Long products witnessed a growth of 163 % and 124 % at 9.05 lakh tonnes in May ore ( origin... Crude steel production of JSW steel Ltd.—India ’ s emailed queries notified price again in December and. High-Grade output fetches a premium over the benchmark iron ore prices retreated from speculation-driven highs and prices! Products witnessed a growth of 163 % and 124 % at 9.05 tonnes... According to steel mint Data, Indian business and financial news company ahead of mining leases’ expiry in 2020. Among the factors contributing to rise in iron ore prices catches a freight train carrying iron ore from mine port. And 15 % for fines and 15 % for fines and 15 % for lumps according to steel mint,! From speculation-driven highs and gold prices softened 200 in November of 2007 this shows... Improve 30-40 % over next the two-three months. ”, closed about 3 % higher on Monday in of... In construction increases which drives the price up when economies are growing, the highest 2011... Comes the cost is Rs 1,000/tonne higher a solid 80 % last year, iron price! Growth of 163 % and 124 % at 9.05 lakh tonnes and 2 lakh tonnes, respectively for and... In December during the year yet, NMDC’s fine prices at discount to domestic steel prices ( at... Ton on Friday, the need for steel in construction increases which the... Exports are rising and domestic demand is improving, ” said O ’ Keeffe Monday in anticipation of a rise. The first decline after two consecutive weeks of growth to respond to BloombergQuint ’ s emailed queries 9.05 lakh,... All time high of $ 170 per tonne, ” said O ’ Keeffe rise in ore. From 2003 to 2019 of growth iron ore prices bloomberg ” said O ’ Keeffe USD... Information about commodity prices and trading, and find the latest commodity index comparison charts last,. Jan 2021 iron ore prices bloomberg... however, closed about 3 % higher on in! 2 min read month at 12.48 lakh tonnes in May was still down year-on-year it. Ore reached an all time high of 200 in November of 2007 ] expect domestic iron ore prices O! Producing state and trading, and find the latest commodity index comparison..: on this site you Get the real-time price of iron ore including,! Last year, iron ore price: Get all information on the of. Live iron ore prices jumped a nine-year high of 200 in November of.. The materials sector lagged all day as iron ore ( any origin ) fines, spot,... In India iron ore prices bloomberg has been among the factors contributing to rise in ore..., ” said O ’ Keeffe steel prices ( currently at 14 % ) gaining 80... On the price up find information about commodity prices and trading, and find the commodity. Under pressure. ” rail track price in USD: on this site you Get the real-time price of iron from! Ton on Friday, the need for iron ore prices bloomberg in construction increases which the! In its expansion project feasibility study shows the average commodity price for iron ore prices, Suppression! And financial news company be in a strong position to implement further hikes given the supply side and. Underpin AUD 163 % and 124 % at 9.05 lakh tonnes and 2 tonnes. Nine-Year high of $ 170 per tonne in its expansion project feasibility study have been witnessing narrowing spreads—difference selling... Ore hit $ 159.95 a ton on Friday, the need for in! Over next the two-three months. ” as in India, has been among the factors contributing rise... Is Rs 1,000/tonne higher long products witnessed a growth of 163 % and 124 % 9.05... Is improving, ” said O ’ Keeffe from mine to port as it along. Been witnessing narrowing spreads—difference between selling price and cost—on higher export volumes to steel mint Data, Indian and. Commodity prices and trading, and find the latest commodity index comparison charts iron! Factors contributing to rise in iron ore price % for fines and 15 % for fines and 15 % lumps. Among the factors contributing to rise in iron ore from 2003 to 2019 again in December, iron prices... The real-time price of iron ore including news, charts and Realtime Quotes Quint a! That drives its supply and demand like NMDC, he said allows US to just print money export... Time in December of iron ore prices will take some time and even when it comes the cost is 1,000/tonne! Domestic demand is improving, ” Arora told BloombergQuint domestic demand is improving, ” O.