Iron ore market saw revival in activity with Chinese mills returning back with enquiries. Stockpiles have depleted to nearly 70 million tonne with mills relying primarily on it rather than going for fresh booking till recently.

Week has been somewhat upbeat with decline in finished steel price stemming and bleak revival seen in flat products.

Recent report of improved PMI and dip in crude steel production has spruced the sentiments though its sustainability is still questionable. The market was left marginally higher by the close giving it the first taste of respite after 30% erosion since February.