Spot iron ore prices in Chinese market move up marginally on improved demand and low inventory levels at Chinese ports. Market sources highlight that Australian PB fines of 61.5 was offered at around $136/t CFR, up by $2 from last offers.
Australian New Man fines of 62.5% fines was sold at around $138/t CFR by BHP. Indian exporters are offering 63.5/63 Fe cargo in the range of $138-139/t CFR, which is likely to be concluded this week.
INDIA
In Indian domestic market traders offer 57/56 Fe iron ore fines at around Rs 3000/t, delivered Vizag port, where as 58 at around 3300/t, delivered Vizag port. Although buyers seem to be interested at levels lower by Rs 100-200 per ton.
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