"Brazil's Vale offers first spot iron ore cargo in 6 weeks Brazilian mining giant Vale offered Monday its first iron ore spot cargo in six weeks, also making this the first spot tender for the year, according to traders. Vale offered Monday 63.8%-Fe Lump Ore Blast Furnace Tubarao, or LOBT, through a spot tender that will close at 5 pm Beijing time (0900 GMT). After an active period of offering cargoes almost every day in the later part of last year, the miner was notably absent from the spot market since selling a 64%-Fe LOBT cargo and a 65.5%-Fe Lump Ore Urucum shipment December 6 at $127.30/dmt and $131.53/dmt, CFR China , respectively."
The 63.8% LOBT by Vale went through at $156/t this morning.
The spot index should thus now be $152-3.
AGO Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
