MMi Daily Iron Ore Report (February 14)

[India Domestic] India’s domestic steel market saw an upward trend with finished steel and semi-finished steel prices moved up. The rise was mainly supported by stronger demand for semi-finished and finished steel products. Tight supply and improving weather conditions as reasons for the increase in activity. PDRI sponge iron prices up by 1.05USD/tonne (100INR/tonne) to USD/tonne (29,800INR/tonne) EXW Bellary. Raipur rebar up by 4.23USD/tonne (400INR/tonne) to 476.51USD/tonne (45,000INR/tonne) EXW Raipur. Rebar up by 1.05USD/tonne (100INR/tonne) to 529.77USD/tonne (50,000INR/tonne) EXW Mumbai. Durgapur billet rose by 1.05USD/tonne (100INR/tonne) to 455.33USD/tonne (43,000INR/tonne) delivered Durgapur. Raipur billet up by 4.23USD/tonne (400INR/tonne) to 449USD/tonne (42,400INR/tonne) EXW Raipur. Ingot rose by 2.11USD/tonne (200INR/tonne) to 492.46USD/tonne (46,500INR/tonne) EXW Mandi. In Mandi Gobindgarh, HMS 1&2 (80:20) rose by 3.17USD/tonne (300INR/tonne) to 401.32USD/tonne (37,900INR/tonne) delivered Mandi.

[Indonesia] Setelah sepekan pergerakan harga slab di pasar, harga kini bertahan stabil di 480 USD/ton FOB. Hal ini karena, meskipun permintaan sebenarnya terus meningkat, sebagian pembeli masih bersikap menunggu. Di satu sisi, sebagian pembeli menunggu sinyal harga dari pabrik Vietnam; di sisi lain, sebagian memantau harga berjangka Tiongkok. Jika arah yang jelas muncul dari salah satu sisi, pasar dapat bergerak kembali — terutama jika harga berjangka Tiongkok naik, yang dapat mendorong pembeli mengambil posisi beli. Untuk saat ini, harga berjangka sedikit turun, dan pasar terus menunggu perkembangan lebih lanjut.