Spot iron ore prices note some downfall in Chinese market on falling steel prices and sluggish demand.
“Buying interest is weak, we had quoted 63.5/63 % Fe cargo at 140/t,CFR China but unable to get any buyer for that. There might be some buying interest at 138-139/t.”said an Indian exporter based in Mumbai.
“Spot iron ore market remained quiet from last 2-3 days, buyers are not aggressive at all though there is some demand for Brazilian cargo. Chances are very less that prices will cross $150/t CFR this year.” commented an importer based in Qingdao (China).
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