Spot iron ore prices in Chinese market move up slightly after falling continuously for 7-days. Australian PB fines of Fe 61% was sold at around $125/t CFR through a tender. But market participants mention that this deal does not give a right picture of the market.
“Demand is still not very encouraging and do not know how long will prices will sustain.” said an iron ore trader based in China.
No offers have been heard from Indian exporters as current spot prices in China are much lower than the domestic prices in Indian market after 30% export duty and differential freight charges.
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