22 Dec
SteelMint Exclusive
Spot iron ore prices stable at $176-177/Mt for 63:5/63 Fe cargo on CNF basis, though volumes remained low as not many buyers and sellers were present in the market.
Indian exporters are bullish that prices might cross $ 180/Mt mark, on the other hand Chinese buyers remained cautious taking positions at these levels.
“Prices likely to remain stable, we are not expecting a steep rise or fall in Iron ore prices. Steel prices in China are ticking up slowly, but it is difficult to say how sustainable these prices are?” said an Importer based in Shanghai.
“There aren’t much offers floating in the market neither there are many buyers available in the market, today it’s the game of selected buyer and selected seller” said an Iron Ore exporter based in Mumbai.
Reported by Richa Sharma (richa.sharma@steelmint.com)
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