Seaborne Iron ore prices continued their bullish trend, which strengthened by 4$ as expected. Steelmint assessed that Fe 63.5/63 Iron ore $138 CFR China which increased by $9 in corresponding to last Monday.
In forthcoming month`s Chinese government is planning to invest more in infrastructure, rail & roads to stimulate the economy growth which will boost the demand for Steel & Iron ore in market.
There is some improvement in export of Iron ore from India as the demand from China is increasing. The demands were increased by mills and trader due to less stocking of material by them in first half of the year. They are importing more to maintain the stock level till November.
China`s Iron ore import increased by 17% to 73.1 MnT in comparison to 62.3 MnT in the last month this is likely to help Indian Iron ore industry to export more as demand will boost up in Chinese market.
Steelmint assessed that the average price of Iron ore in the month of July is 126.80 which increased by 3.9% till 12th of August.
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