Friday, March 11,
Spot Iron Ore prices in China corrected further by $3-4/MT over falling steel prices in China..*
The physical market seems to have gone back in silence mode again as with steel futures starting negative and the news of china’s unexpected trade deficit of USD 7.3 billion against an expected surplus of 4.95 billion in Feb flashed.
Trades are reported at $175 and $176 for 63.5 but again it may not be a pure reflection of market as its lacking the liquidity associated.
” Buying has been really weak over past few days, Indian exporters are booking huge losses. FIMI has also written to finance minister on roll back of Iron Ore export duty.” said an exporter based in Mumbai.
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