Spot iron ore prices in Chinese market have shown some strength on rising steel prices in improved queries. According to local sources imported offers have gone up by almost $2-3/MT specially for main stream cargoes. An Australian cargo of Fe 62% was sold at $119/t CFR on Global Ore.
Indian exporters have also heard to raised their offers. Currently Fe 63/62 is being offered at around $117-118/MT CFR according to Chinese traders.
In Indian domestic market, a small cargo of Fe 58% was concluded at around Rs 2,850/t (ready stock at Vizag port) and Mill scale at around Rs 5,000-5,100/t, delivered Vizag port.
Leave a Reply