A large Indian exporter managed to sell 56% Fe Lumps at $77/t CFR

Spot iron ore market in China notices some down trend over fall in billet and re-bar futures.Local sources report that sentiments were mixed as few cargoes dropped by $1-2, where as few others were sold at similar levels.

Meanwhile a large Indian exporter sold 50,200 MT of 56% Fe lumps at around $77-78/t CFR China, also sources report that Indian exporters offering 63.5/63 Fe fines at around $108-109/t CFR but chances of achieving that target looks slightly tough.

Rio Tinto sold PB fines (61.5% Fe) at around $103/t CFR.