With improved demand from Chinese steel mills, spot iron ore prices have gained $2-3/t in last two days. It is reported that a big Indian miner has concluded same grade at $144-145/t CFR.
Where as other offers stand at $141-142/t for the same grade, there is another cargo of 56% Fe offered at $111-113/t CFR.
According to Chinese traders, this rise will not sustain in near future and prices generally move down in July and August.
Leave a Reply