Spot 63.5/63 Fe iron ore fines remained unchanged at $145/t cfr China.With Chinese steel prices inching up with small gains, traders are unwilling to take a position in iron ore market and wait for markets to take a direction.
“It is reported that Brazilian cargo of 65% Fe lumps was tendered at $165 cfr China, which is same to last tendered prices.
Market waits for Australian cargo to be tendered today, which will set a tune to the spot iron ore market.” said a big iron ore exporter based in Mumbai.
Though Indian exporters are holding handful of cargoes at different ports and unwilling to sell at lower prices , he further added.
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