Indian iron ore exporters maintain their offers at similar levels in spite Chinese buyers are cautious taking position in current spot market.Although improved PMI numbers indicated a sense of positive sentiment in Chinese market followed by rising steel futures and spot prices.
Few cargoes offered by Brazilian and Australian miner fetched few cents higher from previous bids, Indian exporters keeping their offers unchanged at $122-124/t CFR for 63.5/63 Fe fines said market sources.
Essel mining last concluded a deal of 63.5/63 at $123/t CFR and Rungta mines offering same grade at around $124/t CFR.
Australian PB fines of 61.5 Fe hovers around $120/t, where as Brazilian 65+ Fe fines at around $130/t CFR levels.
Participants say that Chinese steel mills are still not comfortable buying at higher prices although crawling up steel prices in Chinese domestic market might give support to iron ore prices at current levels.
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