Tuesday, Aug 16,
The physical market did not see much action as India was on national holiday due to Independence day.
Market remained stable over short supply of Iron Ore fines from Indian exporters. Few deals of Fe 63./5/63 were heard concluded at $184-185/MT.
“There were few transactions at $184-185/MT. However, buyers are still cautious . Spot iron ore might trade high on anticipated stability in global economy.” said an Indian exporter based in Kolkata.
Last week the index was down by USD 2.1 due to various global economy concerns, but the general sentiment this week should remain positive due to recent move of Baosteel to hike the steel prices and the general sense of stability and control in the global economy.
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