Saturday, May 07,
Stocks of imported iron ore at major Chinese ports inched up this week to reach 82.41 million tonnes.*
However, spot prices remain stable over the week as steel mills did not buy much from port markets. Quotes for Fe 63.5/63 lied in between $ 188-190/MT.
The Indian monsoon season has already started putting pressure on the low-grade ore supplies, and prices are likely to remain firm in the coming days.
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