Friday, April 08,
Offers Fe 63.5/63 of Indian cargo stands at $187/MT..*
Spot iron ore prices in China continued to rise even after pricing leader Baosteel announced a price cut for its main products.
Iron ore prices have jumped almost 5% over the week, after slumping 13% from mid-February.
According to traders in China, “Steel demand is picking up and steel mills have also started to build up stocks in anticipation of improved demand for steel as the construction season begins”
According to exporters, India” Offers are likely to remain firm even if major steel makers reduce their prices as supply from India is tight”
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