Spot iron ore prices in Chinese market corrected over $1-2 per ton on weaker demand and falling steel prices in Chinese market. Market participants highlight that buyers are anticipating further fall in prices.
Australian PB fines have heard to be offered in the range of $136-137/t CFR, although buying interest is lower than offered prices.
Indian 63.5/63 Fe reaches around $136-137/t CFR China.
Indian Domestic Market
A sponge manufacturer based in Bilaspur (C.G.) heard to be offering 5,000 tons of Fe 58% iron fines at Rs 1300/t (Ex-Plant); freight to Vizag port is around Rs 2,100/t. Though deal has not been heard done yet.
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