Spot iron ore prices in Chinese market continued to move up on strong demand from Chinese steel mills. Offer prices moved up by $2-3 per tonne in last trading session.
Most popular cargo, Australian PB fines (Fe 61.5%) managed to sold at around $141/t CFR, and offers have further gone up to $142-143/t CFR. On the other hand an Indian exporter heard to be offering Fe 59% iron fines at around $125-126/t CFR China.
“Spot offers for iron ore have gone up by 10-20 RMB as steel mills are short of inventories. Although fundamentals are still not very strong. We do not see prices will sustain at these levels for a long time.” said an iron ore trader based in China.
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