Spot iron ore prices in Chinese market continued to show upward trend on strong buying interest from traders. Indian 63.5/63 Fe reached $132-134/t CFR, where as 58/58 Fe heard to be offered at around $117-118/t CFR from Indian east coast.
“Spot prices have gone up by 10-40 Yuan, specially for Brazilian cargo (which is limited on supply). Australian PB fines of 61 Fe sold at around $137/t CFR. Indian exporters are offering Mill Scale at around $138/t CFR in bulk vessel.” said an iron ore trader based at Rizhao port.
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