Iron ore prices in Chinese spot market remain unchanged as prices surged to 6-months high.Market participants anticipate bullish sentiment to continue as traders and few mills prefer to stock before winter season starts in China.
Australian PB fines of 61 Fe was last concluded at $135/t CFR levels and Brazilian 65 sinter fines hovering around 135/t CFR levels. Indian cargoes are still irregular and inconsistent. Chinese buyers are not willing to pay as much as they are willing to pay for Brazilian and Australian ore.
Indian exporters heard to be offering Mill Scale at $137/t CFR China (Fe 67, moisture max 4-5%) in bulk shipment of 20,000 tonnes.
If sources are to be believed, exports of iron ore from India are falling drastically and expected to touch 10-15 million in 2012-2013.
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