Import prices of South African iron ore lump (Fe 65%) to India have increased by up to $240/t, CIF Kandla-higher by $10-15/t on week. However, there is lack of buying interest as buyers are procuring ore from Karnataka in general and pellets from Bellary in particular, as per sources. Meanwhile, the benchmark global iron ore fines (Fe 62%) index has increased to $209/t, CNF China, on a sharp hike in iron ore futures amid upbeat market sentiments and shortfall from key suppliers.
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