Spot iron ore prices in Chinese market moved up slightly, specially for Australian and Brazilian cargoes which are reported to be low. Australian PB fines of 61.5% moves up to $146-147/t CFR China and Brazilian 63% Fe fines move to $147-148/t CFR (both up by $2-3 from previous trades).
Chinese customs data indicated that imports from Brazil fall over 16% to 20 million tons in the month of February 2013.
INDIA:
Indian exporters highlight that, there has been no query from Chinese buyers in last few days. It is difficult to comment on prices as there are very limited offers from Indian sellers. Sources also mention that Rungta mines Ltd, one of the largest miner and exporter of iron ore holds over 4 lac tons of stock on different ports of India.
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