Tuesday, 28 September,
SteelMint Exclusive
Spot iron ore fines moved slightly up after Chinese holidays.Buying interests seen in the physical iron ore market, although very few deals were concluded.Market level was around $148~$149/MT CFR 63.5/63 Fe cargo.
“We had few inquiries for high grade iron ore from Chinese traders at $148/MT, but we couldnt close any deal as we didn’t have cargo ready with us”, said one of the exporters based in eastern India.
China will be closed again between 1 October – 7 October on account of their national holidays. Also, new quarterly prices from Australian and Brazilian miners will be applicable from 1st October. We need to see how will market react after China returns back from its the holidays.
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