Spot iron ore prices in Chinese market move up marginally, with Australian main stream cargo PB fines having Fe content 61.5 sold above $113/t CFR levels. Although industry experts do not see any sharp recovery in near term.
“It is very hard to predict iron ore price trend, two incompatible facts that Chinese domestic production costs around $115 level and second the coming season would not be high season any more for construction. So I guess it might fluctuate downward a bit in the coming weeks. Anyhow the price below $115 would not be so reasonable, it should return to this level, move up and down around it in the long run.” said an iron ore trader based in China.
No deals from Indian exporters were heard concluded.
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