Iron ore prices in Chinese market remains stable on lack of bids amid dragon boat festival which will end on Today. Although Chinese traders anticipate prices may hold firm and have limited scope of correction.
In Indian domestic market, buying activities remain subdued over low spot prices in Chinese market. Not many Indian exporters are willing to stock looking at uncertainty. A merchant exporter based in Eastern region heard to have bought small cargo of Fe 60% fines at around Rs 2,800/t delivered Vizag port and mill scale at around Rs 4,800/t, delivered Vizag port.
Although there is a wide spread between offers and bid prices, and no concrete settlement.
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