Spot iron ore prices in the Chinese market have maintained an upward trend on rising steel prices in domestic market. Re-bar prices continued to trade high owing to improved demand reported local sources in China.
“There is demand for imported iron ore as steel prices are moving up. Australian PB fines have heard being offered at around $130-131 and Indian 63.5/63 Fe fines at around $131/t CFR. It seems upside will continue for some more time.” said a local iron ore trader based in China.
In Indian domestic market iron ore fines prices kept unchanged by major private miners, however lumps prices are under pressure over falling sponge iron prices in Indian market. Last trade of 10,000 MT, Fe 59% Fe fines, was heard done at around Rs 2,800/t delivered Hadlia port.
Indian exporters also raise their purchase price for Mill Scale by Rs 100-150 and buying interest was noticed at around Rs 5,150-5,250/t delivered Vizag port.
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