Iron ore prices in Chinese spot market continued to move up on strong demand and reducing inventories on Chinese ports mentioned market participants.
Although Australian and Brazilian did not float any offers amid boxing day (eve after Christmas) but spot cargoes available moved up by 10-20 Yuan.
Indian exporter heard to have offered 62.5/62 Fe rejection cargo at $136/t CFR delivery in February, but deal has not been heard concluded.
Indian exporters also speed up Mill Scale purchases from domestic market eyeing higher margins. Last trade of Mill Scale was heard at Rs 4,900/t (Excld Excise) delivered Vizag port.
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