India: Iron ore fines export trade regains momentum following global price recovery

Indian iron ore fines export market regained its momentum in the last couple of days. Deals for Fe 57.5% fines concluded at $75-76/t CFR China, and cargoes of Fe54.5% fines were sold at a 22% discount on the international fines index. The recent increase in global fines prices, driven by Chinese stimulus measures and last-minute restocking ahead of the Golden Week holidays, has bolstered transactions.