It is reported that demand lower grade iron ore fines from India is firming up on strong demand from China and low availability of high grade at Indian ports.
Sesa Goa was heard to have concluded 54% Fe lumps at $108-109/t CFR China, where as other miner concluded a deal of 50% Fe at around $74/t FOB Goa said market sources.
“Demand for low grades is really firming up, based on the better prices that we're seeing trades being done at. V.M. Salgaocar sold for a pretty high price and if PT Resources is really re offering at $94/dmt CFR for 50% Fe fines, that will really push the market up,” reported Platts.
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