Rise in spot iron ore prices and weak rupee have made traders and merchant exporters active in Indian iron ore market. Although with limited supply of iron ore from mining belt of Odisha ,Goa and Karnataka, traders are offering small quantity of iron fines available with sponge plants. Sources tell that few trades of Fe 58 percent grade took place at around Rs 2,800/t (Delivered Vizag Port) and some traders are also offering same grade at around Rs 2,900/t
“Exports from India have dried out, there are limited merchant exporters who are buying iron fines available with sponge plants. But size of trade is small and it will continue to fall this fiscal.” said an iron ore exporter based in Vizag port, India.
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