Spot iron ore prices stable on Thursday on thin volumes. Indian cargo of 63.5/63 remained at $148/t CFR.
Few Australian cargoes of high grade traded a dollar up, but market participants do not see a sharp rise.
"There are few queries from Chinese buyers, but no deal has been concluded yet. It’s still early days for some of the Mills in China to be restocking." said a large Indian importer based in Mumbai.
Essel mining eyes a price of $146/t CFR for 63/62 Fe, but it is unlikely that Chinese buyers are ready to pay so much, he further added.
We do not see any major gains in short term as there are plenty of material supplied from Brazilian and Australian miners said another exporter based at Kolkata.
Leave a Reply