There is no stopping in fall in spot iron ore fines prices in Chinese market, largest buyer of seaborne iron ore in the world. Weak demand and poor PMI data resulted in fall in prices immediately after 3 day labor holiday in China.
Australian main stream cargo PB fines of Fe 61.5 have heard to be sold at $130/t CFR China which was $132/t CFR before holidays.
Another trader based in China report that bids are much lower than bid prices and overall sentiment is not good.
Indian exporters highlight that there is absolutely no buyers for Indian cargo in the market and it will not be justifiable to comment of prices.
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