"63.5 Fe cargo sold at $187 per tonne; spot prices unlikely to fall sharply"-Indian Exporters

Tuesday, May 10,

Spot iron ore market in China remains dull with volumes being low.*

Indian Exporters sold Fe 63.5/63 at $187/MT i.e. down by $2/MT from previous week’s quote.

China’s iron ore purchases in April have reduced by 11% from the previous month as higher prices deterred purchases.

According to traders, China, “Activity cooled down in April as prices gained, Traders diverged on the market outlook because of signs of further tightening on the economy”

According to India Exporters, “Buying interest is low at present. However, prices may not fall sharply given by approaching monsoons in India and delay in issuing of export permits from Karnataka”