Market Highlights:
* Spot iron ore in China trades higher by $1-2/MT.
* Australian PB fines (61.5) was heard being sold at $128/MT
i.e. up from the previous quote of $ 125-127/MT.
* Inquiries for Indian fines have also increased but mostly for
low grade. Whereas, Fe 63.5/63 of Indian fines is still quoted at the same
level of $ 136/MT. With the rising market, material of Indian origin
(mostly lower grade iron ore) now has the possibility to deal.
* Stockpile prices continue to raise 10-20 RMB depending on
the material, with stockpile PB fines now at 960 RMB levels. Given
the recent popularity of PB fines (61.5%Fe), it is now trading at a premium
to TSI’s reference product (62%Fe).
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