Spot iron ore prices continue to move up on bullish sentiments.Prices have gained almost $15-18 in last one month as buyers tend to re-stock.
Australian PB fines (61.5 Fe) was sold at $118-119/t CFR, where as Brazilian 63.2 Fe fines was sold at around $121-122/t CFR.
Market traders say that buyers are little cautious on such sharp hike and believe it should be supported by real demand in steel.
Indian 63.5/63 Fe reaches at around $118-119/t CFR. There are very limited trade activities taking place and not many miners and exporters are holding stock on ports. Exporters are willing to wait for some more time as they are optimistic that they can fetch better deals in coming weeks.
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