Spot iron ore fines price yesterday fell sharply by $5.2 d-o-d on concerns of oversupply for medium grade fines in the near-term amid declining liquidity. Fe 62% fines price stood at $120/t CFR China. Portside inventories for mainstream Australian fines have increased and given sufficient availability of seaborne cargoes hence steelmakers are in no hurry to buy at current prices, a market source reported.
Leave a Reply