To capitalize on rising iron ore prices in Chinese spot market, Indian traders have also raised their offers this week confirmed market sources.
Current offers for Fe 60 content iron ore fines stand at around Rs 3,300/t (delivered Vizag port), where as Fe 62 content iron ore fines is being offered at around Rs 3,750/t (delivered Vizag).
Market traders highlight that there are fewer sellers and buyers in the Indian market as supply of iron fines is restricted to states like Chattisgarh and Bengal.
Spot iron ore prices in International market show some resistance and offers fell down by $1-2 per tonne as buyers wait for direction. Current prices for Fe 63.5/63 Fe stands at $ 124/t CFR, confirmed an Indian exporter.
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