There is something to cheer about for Indian iron ore exporters, industry which was going through a bad phase for last many days.
With improved demand from Chinese mills, rising prices and depreciating Rupee has made realization better for exporters.Spot iron ore prices have gained $2-3 in last three days and offers for 63.5/63 Fe heard to be in the range of $141-142/t CFR.
It is also reported that a big Indian miner has sold a cargo of 63.5/63 at $144/t CFR. Also mill scale of 70% Fe has gained $1-2 and being quoted at $146-147/t.
Though Chinese importers and traders are not very bullish on future outlook and say this rise is not sustainable and prices should trade in range of 130-150/t for rest of the year.
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