Tuesday, December 14,
Spot iron ore prices in China remained firm supported by stronger demand from Chinese steel mills and tighter supplies from India.
Offers for Fe 63.5 Indian cargo was heard being around $175/MT.
Supply from India remained tight and an industry official said that exports from Karnataka are likely to fall by 67 percent in the year to March 2011 because of the ban.
Apart from the ban, bad weather had also delayed iron ore shipments out of India in recent weeks.
Leave a Reply