Spot iron ore in Chinese market more or less remained stable, trading volumes remain thin. Domestic traders kept their offers unchanged though buyers look for some discount.
Brazilian Fe 63+ iron fines was sold at $105/t CFR via tender where as Australian PB fines was offered at around $104-105/t CFR, although bids were as low as $100/t.
Indian government banned exports of iron ore from captive mines w.e.f 19th September, it will not impact supply from Indian market in a large extent said sources.
“Most of captive miners do not export their ore, it will not impact supplies for export although exports have dropped drastically on factors like high freight charges and high export duty.” said an iron ore exporter based in Mumbai.
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