Improved demand in Chinese steel market followed by strong demand for sea borne iron ore, after Chinese government hopeful of stable economic growth next year.
Australian PB fines of 61.5 Fe heard to be concluded at around $123/t CFR, much more than expected. Brazilian 65.5 Fe fines sold at around $130/t CFR. Indian 63.5/63 Fe fine makes it to $123-124/t CFR, although with irregular supply from Indian exporters, Chinese buyers prefer Australian and Brazilian cargo.
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