Wednesday, April 13,
Spot prices of iron ore fines in China remain steady while market players show concern over fast gain in spot prices over past few days.*
According to market players, Chinese steel mills may not be able to afford the surging cost of iron ore in the short term after lowering steel ex-works prices for May. However, the market outlook remains positive on a long run.
Fe 63.5/63 India cargo stands unchanged at $190/MT on CNF basis.
Traders are still upbeat on iron ore prices in the coming weeks on hopes that steelmakers are producing at capacity utilization rates of up to 90 percent amid a pick-up in demand from the construction sector.
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