The iron ore price rise has been unprecedented. It commenced in second week of Dec. ’09 and still going strong. A perception of shortage has taken everybody by surprise thus leading to an sharp rising in prices.

It is learnt that a stampede like situation is created in Chinese iron ore market, where the Chinese are ready to pay around $135/tn CFR at Main Chinese port for std. grade Indian ore which translates into $100/tn FOB Indian port.