Iron ore prices in Chinese spot market move up as holidays in China were over on the 16th of the month.
Activities in construction sector improves during this time. Also, ports in China are holding iron ore inventories in lesser quantities at the moment.
Hence, prices have been raised in China, on anticipations of rise in demand.
An Australian cargo PB fines is heard to be offered at $160-161/MT .
According to a traders, Vale is offering to sell 80,000 tonnes of 64.7-percent grade Brazilian iron ore at a tender closing later on Tuesday.
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