Spot iron ore market in China remained more ore less calm. Australian cargo of 62% Fe was concluded at around $133/t CFR. Although with Bao steel, China's major steel producer, cutting June steel prices, giving a pessimistic outlook in the market.
Indian offers for 60% iron fines heard to be at $120-121/t CFR China and 63.5/63 Fe at around $132-133/t CFR China. Indian exporters are also heard to be offering Mill Scale at around $130/t (down by around $5/t from last week) in bulk.
Overall sentiments remain mixed and buyers look to wait and watch.
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