Spot iron ore fines prices kept unchanged at $122-124/t for 63.5/63 Fe CFR, with some Indian offers gained 10 CNY on Rizhao port.
Market experts feel that downside is limited and there is some buying seen at these prices.Few Brazilian and Australian cargoes though traded few dollars lower than last trade.
“We see prices have almost bottomed out and downside is limited, still market looks uncertain at the moment.” said an iron ore trader based in Shanghai.
Indian exporters were not heard offering high grade cargoes in spot market, though some exporters are looking to supply iron fines to big pellet plants in India.
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