Spot iron ore prices in Chinese market moved up by $2-3 per ton on improved buying sentiments and decreasing iron ore inventories at Chinese ports.
“Offers for sea borne iron ore have gone up by 20-30 RMB largely due to improved demand. Australian PB fines of 61.5 Fe is offered in the range of $138-139/t CFR and Indian 63.5/63 in the range of $138-141/t CFR.
Steel prices in Chinese market have stabilized although some traders believe that large steel mills in China may cut ex-work prices for next month”, said a local source based in China.
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