Seaborne iron ore prices in Chinese spot market continued to inch up on rising re-bar and billet prices, followed by improved demand from traders. Iron ore index of Fe 62% also moved up to 120.7/MT CFR North China.
Meanwhile an Indian exporter managed to close a deal of around 45,000-50,000 tonnes of Fe 63% iron fines at around $117/t CFR China. Industry sources also highlight that vessel waiting at Paradip and Haldia port have increased to 10-12 days over coal and iron ore traffic.
Depreciating Rupee has also helped Indian exporters to get better realization. In domestic market 58% Fe iron fines is being offered at around 2,800-2,900/t,delivered Vizag port, but there is no clear indication as at prices are trade taking place.
Also Mill scale was heard sold at around Rs 5,100/t delivered Vizag port.
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