Spot iron ore prices in China noticed further correction of $1 per tonne of lack of buying interest. 63.5/63 Fe hovers around $137-138/t CFR northern port China.
A cargo 56% Fe is offered at $ 111-112/t CFR but bids are few dollars low reported local sources in China.
Indian exporters have also cut their purchase prices after price drop and recovery in Rupee (which has recovered by 40 p in last 2 trading sessions).58% Fe Rejection cargo is sought for Rs 3,400/t which had traded at Rs 3,600/t last week.
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