Spot iron ore prices in China moved up further by 10-20 Chinese yuan (CNY) on rising steel prices reported market participants.
“China market rebounded a bit, today iron ore price up 10-20 CNY; billet up 120 CNY last Friday, today up 50 CNY again.The central government approved about 0.8 trillion CNY stimulating projects.Also paper markets moved up a bit.” said a local steel trader based in Shanghai, China.
Indian 63.5/63 Fe fines stay in range of $95-96/t CFR, though no offers were heard from Indian exporters.
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