Spot iron ore prices rebounded back on positive announcement by US federal reserves over easing monetary policy to improve global sentiments. All base metals sharply moved up including steel futures billet and spot iron ore prices in Chinese market.
“Spot iron ore market noticed active participation on positive global sentiments.Steel re-bar futures moved up over 2.5% where as billet prices also gained back to high levels. Few deals were heard concluded, Rio Tinto selling PB fines at around $106/t.” said an iron ore trader based in Rizhao port.
Indian exporters heard have kept their offers unchanged at $108-109/t CFR for 63 Fe fines, reported market participants.
Leave a Reply