Spot iron ore prices noticed significant gains after Australian cargo was tendered higher by $2. PB fines of 61.5 % Fe (Equivalent to Indian 62% Fe) was tendered at around $139/t cfr, up by $2 from previous trades.
The Physical market saw a good jump after several cargoes trading at much higher than last levels after Iron ore swaps gained 2% last evening.
“Certainly there are few more queries , but we are not holding much stock with us. We sold a cargo of 59/58 % Fe at around $105/t (FOB Vizag). Though it will be early to say if Chinese steel mills are ready to accept higher ore prices.” said a miner/exporter based in Orissa.
Leave a Reply