Spot iron ore fine prices in Chinese market dropped by about $3 per tonne over government's intention to slow down pace of fast growing realty sector in China.
“Sentiments have gone down, especially after Government is concern over rapid growth in realty space.
Spot prices have come down as well. There are offers but very limited buyers, as they prefer to wait for clear direction.
Australian PB fines being offered in the range of $155/t CFR, but unable to get a buyer.” said an iron ore trader based in China.
Indian miners also offer fines at lower levels from previous week, but buyers are not in a hurry to book aggressively, he further added.
INDIA
Indian miners based in Odisha, continued to cut their domestic iron ore fine offers, particularly after state government allowed miners to dispose of piled up stock.
Current offers for 63% Fe iron fines offered in the range of Rs 1,900-2,200/t (Loaded to Wagons at Barbil, Odisha).
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