Spot iron ore markets have been closed in China for golden week (1-7th Oct).Supply from India is a critical issue for Chinese steel mills.
Experts do not see a sharp downfall from these levels and expect prices to be in range of $170-175/mt (CFR China) for 63.5/63 Fe grade.
Mining companies like BHP and Vale are confident of China's Iron ore demand.“We're confident in the Chinese iron ore story,” Mr Ashby said today. “Though there will be some speed bumps along the way.” Iron ore president at BHP Billiton.
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