Spot iron ore prices in Chinese market continued to crawl up primarily due to less supply from Brazilian and Australian miners. Market sources highlight that Australian 58% iron fines being concluded at $128/t CFR and Australian PB fines Fe 61.5 offered at $138/t CFR.
Indian exporters heard to have offered Fe 57/56 cargo at around $109-111/t CFR and 63.5/ 63 at around $139-140/t CFR China.
Some miners based in Odisha have re-started operations since they were closed since October 2012 on violating environmental norms.Also some are planning to increase fines prices in domestic market.
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