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WhatsApp: +86 18838072829"China's desire, as the largest importer of seaborne iron ore, to have stronger influence in pricing is understandable," according to Will Chin, head of commodities at Singapore Exchange, which pioneered the world's first cleared iron ore swap in 2009. China consumes 70% of the world's seaborne iron ore a market trading billion mt/year.
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WhatsApp: +86 18838072829Australia is the single biggest source of iron ore supply to China, accounting for 61% of Chinese imports in 2020. The escalating political tensions between the two countries, however, have driven China to look for alternative supply sources. Indian iron ore exports over recent years have helped to fill shortages in the seaborne market.
WhatsApp: +86 18838072829Export prices for CNF South Korea (1050mm, HC 60%) is 86 cents/lb, for CNF Japan(1050mm, HC 60%) is 87 cents/lb and for CNF China(10150mm, HC 60%) is around 8484 cents/lb. On the future outlook, global buyers are likely to follow the Chinese market and global Ferro Chrome prices are expected to go up in line with Chinese Prices.
WhatsApp: +86 18838072829Export prices for CNF South Korea (1050mm, HC 60%) is 86 cents/lb, for CNF Japan(1050mm, HC 60%) is 87 cents/lb and for CNF China(10150mm, HC 60%) is around 8484 cents/lb. On the future outlook, global buyers are likely to follow the Chinese market and global Ferro Chrome prices are expected to go up in line with Chinese Prices.
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WhatsApp: +86 18838072829expected Fangda Iron Steel, also a privatelyowned steelmaker, to soon exceed Rizhao Iron Steel in terms of production, as it had contacted Anyang Iron Steel, in the Henan province, to explore consolidation opportunities. Fangda Iron Steel is China's tenth largest steelmaker, with a crude steel output of million mt in 2020.
WhatsApp: +86 188380728291. Prices in Raipur are hovering in the range of INR 3,6003,800/MT exworks 2. Kandla's prices are heard to be at INR 3,200/MT delivered Port 3. Last trade of 70% Fe Mill scale was settled at USD 7274/MT FOB Chennai/Kakinada 4. Indian Ferrous Scrap and Mill Scale Trade Meet, Hyatt, Chennai, 2122 Nov
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WhatsApp: +86 18838072829Last year China, which accounts for about 70 per cent of the world's seaborne iron ore trade, produced about billion tonnes of steel, a drop of about per cent from 2021 levels.
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