China's June PMI raises hopes of Indian iron ore exporters

Exporters will have to compete hard to win back the market they lost in the wake of the mining ban

Why should Indian iron ore exporters be excited that China’s manufacturing sector did better in June than polls of experts suggested? The simple answer is, the principal destination of this country’s exports of iron ore, mostly fines is China. In a major surprise, China’s official manufacturing purchasing managers’ index (PMI) for June was up to 51.7 from 51.2 in the previous month. This is against Reuters poll forecast for 51.
 

China’s June PMI scaling unexpected high has been supported by both rises in new export contracts and improvement in domestic demand. 

Prices for both segments improved for the first time