The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last week on November 24th 2008.
Delivery | Price | Change |
FOB Indian port | USD 60-USD 63 | Down by USD 2 |
CIF Chinese port | USD 68-USD 73 | None |
The change is with respect to prices posted on November 18th 2008
The CCCMC reference prices are average prices for import transactions of Fe 63.5% Indian iron ore concluded the week prior to issuance date of such reference prices. 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.
