Indian exporter offers 63.5/63 at $118/t CFR China; no deals concluded

Falling steel futures and physical prices in Chinese market, buyers prefer to wait and watch before they place fresh orders for iron ore.

Prices slipped by another $1-2 per tonne and Indian 63.5/63 reaches at around $114-115/t CFR. Sources tell Steelmint that Indian exporters are offering 63.5/63 Fe at 118-119/t CFR though bids from Chinese buyers are as low as $113-114/t.

Iron Ore, 63.35%-Fe, a Brazilian iron ore miner sold at $115/t. Overall trading activities remain dull. Market anticipates prices to correct further by $3-4 this week.