Sea borne iron ore prices in Chinese market continued to maintain upward trend with offers inching up by another $1-2/t. Australian PB fines of Fe 61.5 was concluded at $141-142/t levels on CFR China basis.On the same lines iron ore offers from Brazil , India and South Africa also moved up primarily due to low inventory levels at Chinese ports.
Many iron ore traders based in China believe that prices may not sustain in medium to long term as steel demand is still not very encouraging.
Indian Domestic Market
Iron ore miners maintain their offers this week
Iron ore traders and exporters speed up their purchases on rising international prices
Fe 59% iron fines being offered at around Rs 3,500/wmt, delivered Vizag port
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