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anilsoharu
Asia iron Ore-India Eyes on high prices afterwards China holidays - Subscribe
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India's iron ore deals were heard at $93 a tonne C&F this week, up from a anniversary ago, and traders said they were eyeing college prices back China reopened afterwards its eight-day anniversary abutting week. "China will acceptable be reopening with more good prices," said a banker based in a ample mining aggregation in east India. "The abutting year's agreement will alpha and I accept the Australians and Brazilians won't let the atom prices fall." The banker said he had heard deals at $93 a tonne for ores with 63 percent iron, bales included, which was college than $88-$90 aboriginal aftermost week. China, world's better adamant ore buyer, bankrupt for its National Day and Mid Autumn anniversary holidays on Thursday afterwards some abrupt affairs beforehand that pushed up prices. Iron ore exporters India said a abatement in port stocks in China, hardly college bales costs and accessible negotiations amid China and its suppliers Brazil and Australia for abutting year's criterion pricing, gave them hopes of college prices abutting week |
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anilsoharu
Indian Iron ore exports awake in July Oct 6th, 2009 12:38:54 am - Subscribe
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India exported 5.9-million-tonne iron ore in July, a 2% increase over the same period last year after clocking 26 million tones of exports during the April-June quarter, the same as the year-ago period, according to data collated by Association of Iron Ore Exporters India. The growth comes at a time when the finance ministry is considering a proposal by the steel ministry to levy 10% tax on export of iron ore to ensure availability of ore to domestic steel makers. The steel ministry recently wrote to finance Minister Pranab Mukherjee suggesting that the proposed export duty has become essential for ensuring availability of iron ore to domestic steel companies, which have been facing lower supply of the raw material for the past 5-6 months. The iron ore exports rose around 5.4% in July from 5.6 million tonne in June, according to the study conducted jointly by Goa Mineral Ore Exporters Association, “Demand for ore is coming mainly from small steel makers in China, which are dependent on the raw material sold in the spot market,” said RK Sharma, secretary general, Federation of Indian Mineral Industries. Iron ore exports will continue to differ over the next few months till demand revives from large steel producers, he added. As a result, supply orders for the large Chinese steel firms are yet to pick up. India produces close to 200 million tonne of iron ore every year, half of which is exported. Around 80% of the country’s ore exports go to China. |
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anilsoharu
Rice prices may return to record levels Oct 31st, 2009 1:36:11 am - Subscribe
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Food price protests swept the globe from Bangladesh to Haiti last year after fears of supply shortages prompted producers including India and Vietnam to cut exports. Rice futures surged to a record $25.07 per 100 pounds in April 2008 as shipments slowed and the Philippines, the biggest buyer, increased purchases to secure supplies and cool inflation. “Circumstances present that possibility” of rice prices returning to record levels. Spot rice prices in the US, the fourth-largest exporter, may surge to $16 per 100 pounds early next year from more than $12 now, as cool, wet weather reduces output there and drought and storms limit supplies from Latin America, India and the Philippines, Roberts said. US output may miss a Department of Agriculture estimate by as much as 15% and help push spot and futures prices even higher, through last year’s records, he added. Demand High Global demand for milled rice in the marketing year through 2010 will jump to the highest level since at least 1960 and exceed output by 2.4 million metric tons, the USDA said Oct. 9. That forecast assumes a 2.7% decline in global output to 433.6 million tons and an 8.3% gain in US output from a year earlier to 7.056 million tons. Transparency Lacking Futures and spot prices have yet to reflect the global supply and demand situation because of a lack of transparency in some of the government data that traders rely on, the US Producers Association’s Roberts said. “Sooner or later when there’s a big purchase, and stocks are low, then reality hits,” he said. “And that’s not just in the United States.” |