Steel prices in China move up by 10-20 yuan per tonne from last week in expectation of improved demand from construction sector.
” This is peak season for construction activities in China, steel prices generally stay strong. We can expect iron ore prices will also stay firm on good demand.” said a steel trader based in China.
63.5/63 Fe iron ore fines is around $151/t where as 59/58% is offered at $130-132/t CFR China said an Indian iron ore exporter.
Iron ore fines prices delivered at Indian port also remain unchanged as 58% fe rejection is heard to be traded at RS 3,150/t. Indian exporters are bullish on strong dollar in coming weeks, which will get them a better realization.
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