Spot Iron Ore offers in Chinese market continued to inch up on restocking and bullish sentiments. Prices gained almost 40% in last one month to trade at 14-months high.
Although Chinese iron ore trader see situation alarming and highlight that buyers are hesitant to make aggressive purchases. Australian PB fines of 61% heard to be sold at around $159/t CFR loading in mid Jan and Brazilian 63.5 Fe fines concluded at $158/t CFR on the exchange.
Indian exporters too raise offers by few dollars and 62/62 Fe cargo being offered somewhere in the range of $153-155/t CFR China, though buyers still prefer Australian and Brazilian Cargo.
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