Spot iron ore tags rise in China as steel items fall

Oct 12, 2010 | 12:00 PM |

Spot iron ore prices gained another 2 percent Tuesday as Chinese mills restocked following the end of the week-long National Day holiday, although steel product prices lost ground.

Prices for 63.5-percent Indian iron fines rose to $158 to $160 per tonne c.f.r. main Chinese ports Tuesday amid sparse deals, up $3 from Monday.

"Offers have been received at $157 to $159 per tonne c.f.r., but mainstream deals were made at about $160, indicating that domestic iron ore demand is great," a source at a mid-sized steel mill in Hebei province said.....

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