Spot iron ore market in Chinese market remained bullish and prices moved up by $2-3 per tonne. Rising steel prices kept sentiments positive in Chinese market. Brazilian miner heard to have sold 65+ Fe fines at $120-121/t CFR, where as Australian miner BHP sold Yandi fines of 57% Fe at around $106/t CFR.
Indian cargo is sought by Chinese importers, though there are not many offers in the market.” Sentiments are bullish at the moment, we have asked Indian 63.5/63 Fe fines at $108-109/t CFR, but there are no offers in that price till now. If we raise our bids to probably $112-114/t, we may conclude.” said a Chinese importer.
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