Rio Tinto which had put 1,35,000 tonnes of PB fines (61.5 Fe) this morning was able to fetch $88.5/t CFR (down by $0.3 from previous tender on Wednesday).Market sources explain this deal was way above expectation as they were anticipating bids lower by $2-3 per toone.
“We were anticipating PB fines to get bids lower by $3 per tonne at around $85/t levels.There were some infrastructure projects announced by Chinese government which have kept market sentiments positive.” said a Chinese trader based in Shanghai.
On the other hand Indian exporter Sesa Goa has heard to cancelled its 55,000 tonnes iron lumps of 57/56% Fe on weak response said market participants.
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