2010.10.1501:00:00UTC+00Tsi 62 Pct Iron Ore Benchmark Rises for 8th Straight Session to a 5-Month High of $152.70 a Tonne

News:

• The Steel Index (TSI) 62 pct iron ore benchmark climbed $1.90 to $152.70 a tonne, cost and freight to China, rising for the eighth session in a row to its highest since May 20, at end of trade on Thursday, backed by stronger Chinese demand.
• Chinese industry consultant Mysteel reported, imported ore offers in China with 63-63.5 pct iron content stood steady at $157-$159, C&F, on Friday.
• The TSI index rose 5 pct so far in the week, retreating 30 pct from 6-1/2-month lows touched in July, owing to heightened Chinese buying follwing weeks of a lull in demand.
• Higher steel prices is likely to result in Vale, Rio Tinto and BHP Billiton, the world's three biggest iron ore producers, raise their contract prices for Q1 of 2011.
• The Singapore Exchange-cleared October contract shed 50 cents to $148 a tonne, while the November contract fell $1.87 to $147.88 and December eased more than $2 to $146.63.