Indian low-grade iron ore fines (Fe 57/58) export price has increased marginally this week to around USD 57-58/MT, CFR China witnessing a weekly hike of USD 2/MT.
As per the sources, an Odisha based major merchant miner has concluded 55,000 MT low-grade iron ore (57/58%) to China at around USD 57-58/MT CFR, China for end Dec shipment.
Market participants are hopeful of global iron ore prices to remain supported in near short term.
As per data compiled by SteelHome consultancy, iron ore inventory at major Chinese ports fell to 126.5 MnT as against 129.4 MnT assessed towards end of last week. However, pellet inventory witnessed slight increase W-o-W to 6.5 MnT against 6.4 MnT a week ago.
Chinese spot iron ore fines (Fe 62%) index opened up this week at USD 88.7/MT,CFR China and picked up to USD 89.4/MT, CFR China towards weekend.
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