Spot iron ore offers correct marginally by 10-20 Chinese Yuan ($1-2) per tonne as market suspects actual demand in the market.All cargoes which concluded yesterday were bid lower by $2-3.
Australian Yandi fines of Fe 57.6 concluded at $106/t CFR, lower by $2 from previous deal. Australian PB fines (Fe 61) concluded at $117/t CFR (down by $2).
Brazilian Fe 65 fines sold at $123/t CFR, which fetched around $125/t in previous trading.
Indian exporters still on sidelines over high freight charges and export duty. Though few local traders offer low grade fines of Fe 58 at Rs 2,800-2,900/t (Delivered Vizag Port).
Leave a Reply