Wednesday, 29 September,
SteelMint Exclusive
Spot iron ore prices in China have moved up by $1-$2/MT; 63.5/ 63 Fe cargo is being quoted at $149-150/MT with a previous deal concluded at $148/MT. “There were few inquiries for higher grade cargo at $149-150/MT; reason might be most of the exporters based in India do not have stocks ready with them. Though, heard few deals were concluded at $149/MT”said an exporter based in Mumbai.
China Government might restrict import of low grade Iron ore (less than 52% Fe) said one of the officials in Beijing. Spot iron ore prices in China were stable at $145-146/MT for quite some time but looks like that’s picking up.We will get to know the actual picture after China comes back from its holiday i.e.on the 8th of October.
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