Asia Iron Ore-India quotes up on China talks, port strike
* Iron ore at $60-$64/tonne FOB, up on week amid China talks
* Chinese demand good, India's strike, monsoon slow supplies
By Ruchira Singh
MUMBAI, July 2 (Reuters) - Iron ore prices firmed in Asia over the week as China looked like it was set to take a smaller cut in its annual iron ore contracts than earlier expected, exporters and traders said on Thursday.
India's strike at Haldia port in the east, coupled with the closure of iron ore fines shipment from Goa state in the west, aided the price rise, India exporters said.
"All through the monsoon, prices may stay in the $60s," said an official in a large foreign trading firm based in Bhubaneswar in east India.
India's annual monsoon started last month, closing shipments of the moisture-absorbing iron ore fines that comprise less than half of India's 100 million tonnes a year exports.
Shipments are likely to resume after the monsoon ends at end-August.
The port strike, in its third day also impacted traffic at neighbouring Paradip port where the waiting period for ships stretched to 20 days. Continued...
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