Spot iron ore prices in China kept stable on Wednesday morning with quite a few Brazilian and Australian cargoes tendered in last few trading sessions.
Brazilian 58% Fe fines was sold at $107/t and Australian PB fines (61.5%) managed to fetch $117-118/t in the exchange.
According to the latest data from CISA, China’s daily crude steel production was estimated at 1.95 million tonnes during July 21-30. Although it decreased 2.2% compared to last session, Australian and Brazilian miners invited several cargoes today.
Indian 63.5/63 Fe fines were asked for $117-119/t CFR, but Indian exporters are in no hurry to sell at such low levels.
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