Spot iron ore prices in China and Indian rupee showed fluctuation in last few days. Indian iron ore traders have become active on improved demand for low grade iron ore fines.
“There is demand for low grade iron ore after Goan ports are closed since last week.These fines are available in sponge plants based in Chattisgarh, Orissa, Bengal and Jharkhand.” said an iron ore trader based in Tatanagar.
These fines are generally take to Vizag port and exported from there, he further added.
Another iron ore trader based in Chattisgarh reported SteelMint that demand has improved for low grade fines on falling Rupee.Some transactions happened last week are,
56% Fe fines sold at Rs 3000/t F.O.R Vizag (5,000 MT)
58% Fe Fines sold at Rs 3450/t F.O.R Vizag (10,000 MT)
54% Fe Fines sold at RS 2600/t F.O.R Vizag (8,000 MT).
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