Offers for Spot iron ore remain unchanged on Friday with
buyers still cautious. Prices have ranged in between $ 144-148/MT in the past
two weeks and prices at recent sale tenders by global miners have also dropped
or steadied from previous sales.
Fe 63.5/63 of Indian fines is quoted same as $148/MT.
According to market players, “Right now this market has
no clear direction and everyone is in a wait and watch situation. Some Chinese
steel mills are also preferring to buy material stockpiled at ports which are
$4-$5/MT cheaper than fresh seaborne cargoes”.
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