Spot iron ore prices in Chinese market continued to stay strong on improved buying from Chinese steel mills, which are running low on iron ore inventories. Australian PB fines of 61.5 Fe offered at around $140/t CFR, although it managed to attract bids up to $139/t CFR.
Indian 63.5/63 Fe fines also moved up by $1-2 to reach at $138-140/t CFR China and Fe 58 fines at around $118/t CFR China.
In Indian domestic market local traders have raised their offers by Rs 100-150/t on improved buying and weak Rupee against USD. Current buying interest for Fe 59 iron fines is in range of Rs 3300-3400/t delivered Vizag port.
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