Friday, August 12th,
Spot Iron ore market remains quite with low buying interest.Chinese traders and steel mills unwilling to procure material when there is uncertainty in the world economy.
63.5/63 Fe cargo being quoted at $184/mt, including freight by Indian exporters, thought not much of the trade were heard concluded.
Few big miners have heard sold cargo of same grade at $185.5/mt to Chinese steel mill.The iron ore market remains relatively unchanged
considering the turmoil in the Equity markets.
The Chinese RMB has made slight gains against USD in recent thereby supporting the importers. The indices are slightly negative.
Reported by Meghna Verma (meghna@steelmint.com)
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