Spot iron ore prices in Chinese market remain almost unchanged from previous levels. Despite 5 days long holiday in China, buyers seem to be conservative on making big purchases. An Australian cargo of 62% was concluded just above $111/t CFR China. With falling equity markets in China and Japan, market looked to be on back foot.
Indian exporters still not offering huge quantities to Chinese buyers. Although some vessels have been lined up on Indian east coast for exports of iron ore from Kalinga Allied, MMTC, Rungta and Kashvi Power.
An Indian merchant exporter have shown interest for 60% Fe iron ore fines at around Rs 2,700/t delivered Vizag port.
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