The latest recorded Chinese spot prices of iron ore are as follows:
- Aus Pilbara Fines $148/tonne
- Yandi Fines $135/tonne
- Indian Fines $151/tonne
- Iron Ore benchmark $149.30/tonne
These prices remain historically high, and the benchmark price is the highest since mid October. There is a general weakening of the spot price, however due to concerns over the slowdown of the Chinese economy which is growing at its slowest rate in recent times. There is also a sign that steel makers are looking to run down some of their stocks and that the current spot price is considered rather high. There is currently 97.6MT of stockpiled iron ore at Chinese ports.
The price for Indian ore remains high because of the perceived risk of disruption from the impending monsoon season. The level of exports to the biggest market from India has dropped in the first part of 2012, however.