Spot iron ore prices in China have noticed some upward movement after holidays. Prices look to be strong on rising steel prices and unavailability of low – medium grade iron ore from India.
Market sources report SteelMint that Indian miner, Sesa Goa fetched higher bids for low grade iron ore from Goa.It was reported that 54% Fe ore was sold at $ 115/t CFR, where as a cargo of 50% Fe was successfully concluded at $ 95-96/t CFR.
” Demand is fairly strong from China , also we are expecting Dollar to get stronger further. There are not many cargoes available in the market on high freight charges and high export duty.” said a miner and exporter based in Odisha.
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