21st Feb 2011
63.5/63 Fe cargo being offered at $192-194/MT on Monday said Indian exporters.*
Buying remains weak for last 2 days as Chinese steel prices kept on falling after govt came out with policies to control high rising property prices.Buyers remain cautious over instability in the market.
Buying has disappeared from the market commented one of the renowned exporter based in India. There are no buyers at $192-194/MT for 63.5/63 Fe cargo on CNF basis, he added.
It will be interesting to see what does Indian govt plan in budget session, will there be any hike in export duty or banning high grade Iron Ore?
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