South African iron ore lump (Fe 64%) imported offers declined by $8/t w-o-w to $119/t CNF Kandla on 13 Mar’24 following the sharp drop in spot and futures prices in China. As per sources, buyers were observing the market, and after another $8-10/t reduction in prices may hedge the material for buying. The benchmark Fe 62% fines index decreased by $7/t w-o-w to $110/t CFR China yesterday.
