Rising spot iron ore prices in Chinese market show some resistance after poor PMI data posted by the Chinese government.Offers were pulled down slightly, however buying interest was seen missing completely. An Australian cargo of Fe 62% was offered at around $119/t CFR but failed to get buyer for that.
Indian exporters heard to be offering Fe 63.5/63 cargo at around $120-121/t CFR China. In Indian domestic market an Indian exporter whose vessel is expected to get a berth at Paradip port is buying Fe 60% iron fines at around Rs 2,900-3,000/t delivered Paradip port.
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