With iron ore prices stabilizing in Chinese spot market, few Indian merchant exporters have offered their cargoes, which they held in September-October on hopes of revival.
A large merchant exporter based in central India, heard to be offering 63.5/63 Fe fines at around $123/t CFR, though it has failed to find a buyer and same exporter is offering 61% fines at around $117/t CFR, which also remains unsold.
Another large miner and exporter based on Indian west coast had tendered a cargo of Fe 59%, which was cancelled later due to high moisture content.
Australian and Brazilian miners continue to offer their cargoes at almost similar levels in Chinese market.
Industry experts see iron ore prices to be in range of $120-125 for 63.5/63 Fe in 2012.
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