Spot iron ore prices in China inched up further and Indian fines Fe 63.5/63 reaches at $148-149/MT (CnF China) i.e. higher by $3 from the previous offers.
” Prices should be around $148-149/MT for Fe 63.5/63, Indian cargo, but there are no trades on lack of cargo availability.” said a large Indian exporter based in Mumbai.
Freight charges remain same at $12-14 from east coast of India.Offers from Australian and Brazilian miners also inched up by $1-2, he further added.
Heavy rains have forced the
world's top iron ore exporter Vale to temporarily halt extraction at some mines
in Brazil's most important ore-producing state.
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