Iron ore spot transactions in China returned even before the Golden Week ended.
As per market information, a 61/60% Fe grade cargo was sold at USD 80 per tonne on a CIF China basis
It is also reported that a 63/62% Fe grade cargo was also sold at USD 69 per tonne on FOB India basis.
But tmarket players think these levels are still relatively high and believe they will need to observe longer to see where prices will go.
Source: Steel Guru
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