August 18,
CNF China prices for Fe 63.5/63 grade have gone up to $155/T.
Such price improvements could be because of limited supply of the material. August has seen a few good days of demand from the Chinese traders and mills. The ban from the Southern ports is seen as an opportunity by the ones in the Eastern coast.
The export prices over the past few weeks have been in $150-$155 zone; however, it may be difficult to comment on the future prices.
Also, more clarity on the Karnataka Mining issue is expected in the next week which is expected to give this price trend a better shape.
Reported by Monica Pattanaik (monica@steelmint.com)
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