Spot iron ore prices , which have corrected over 10 percent in last one month have shown some sign of stability.There is limited scope of correction said market reporters to SteelMint.
“Iron ore prices in spot market have over-corrected despite supply from India has been very very limited.But it looks prices might find strength at these levels. Also Brazilian cargoes had arrived in large quantity last month, almost 3million tonnes.” said an importer based in Shanghai.
Also re-bar prices gained almost 0.8 % in morning trade,which might lighten up market mood, he further added
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