Spot iron ore prices in Chinese market remain stable with Australian PB fines traded at $134-135/t CFR and Indian 63.5/63 at around $134-135/t CFR.
Prices have corrected almost $10-12 in last 15 days, although Chinese importers and traders feel that scope of iron ore prices falling below $130/t (for Fe 63.5/63) levels are limited.
In a recent projection by Chinese national development and reform commission, iron ore and crude steel demand likely to go up this year and chances of price falling to an abnormal level is unavoidable.
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