Spot
iron ore prices remain unchanged on thin volumes. Fe 63.5/63 of Indian fines was
quoted at $148/ MT (CnF).
Chinese
buyers wait for BHP's tender for clear signs before making any further buying. A
tender by global miner BHP Billiton for MAC and Newman iron ore fines will
close on Tuesday which should give the market a clear picture regarding prices.
Market
players are expecting prices to move up in the coming days as steel mills may
be running slow because of limited stock and they need to buy stock from market.
In
the domestic market, Iron ore prices remain steady because of shortage of iron ore
on account of ban on mining in some states and import duty rising to 30%. NMDC is
also not in a hurry to revise its prices as Iron ore prices in the international
market has been steady from quite some time. “If at all there will be any
reduction in the prices, then it may be very less”,said sources.
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