With rise in steel re-bar futures and billet prices in Chinese market, iron ore buyers actively participated in spot market and placed their bids higher by $3-4/t.
Australian 61.5% PB fines was sold at $96 per tonne (higher by $4-5/t),BHP sold Newman fines at around $98/t , where as Indian exporter heard to have secured 63.5/63 at around $104-105/t CFR, reported sources.
There has been a mixed response in the market on re-bound in iron ore and steel prices in China, some think prices will sustain and rest half thinks government stimulus package will take time to get implemented.
Leave a Reply