Indian miners fetched few dollars high on low grade iron ore in the spot market. Much sought low grade iron ore offered by Sesa Goa (India's one of the largest exporter of Iron ore) sold 50/50% Fe fines of 80,000 Mt at $92/t, CFR and another cargo of 52/52% Fe lumps was heard concluded at $ 102/t CFR.
Higher grade cargoes of 63.5/63 Fe remained steady at $150-151/t CFR.
” There are hardly any offers of higher grade in Indian markets. Low grade iron ore demand is pretty strong at the moment. 53-54% Fe cargo is offered in the range of Rs 2350-2400/t (Ex Vizag).” said an iron ore fines trader based in Hyderabad.
There was offers from a Brazilian producer, The cargoes on offer were, 175.5 wmt 64.95% Fe which was heard to have dealt at $152 and 160kt of
62.8%Fe believed to have concluded at $147, CFR.
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