Australian and Brazilian iron ore fetched higher bids in spot market

Spot iron ore prices in Chinese market continue to move upwards. Buyers actively participated in Brazilian and Australian cargo.

Sources tell that Australian PB fines was concluded at $ 119/t (up by $4-5), Australian Yandi fines of Fe 57+ up by $2 and trades at $108/t CFR.

Brazilian miner also managed to conclude Fe 63+ parcel at around $121/t CFR.

Indian exporters look to buy material from local market on rise in global prices.As of now miners do not hold much cargoes on Indian ports.