Indian iron ore exporters kept their offers unchanged at $151-153/t CFR for 63.5/63 Fe iron ore fines, after slashing it by more than $5-6 from last week.
Market sources highlight that there are no clear indication, which way market is heading to. Spot iron ore prices have gained almost $40 in last one month, although rally has stopped owing to falling steel prices and diminishing demand in China.
“There are no buyers at the moment, our offers are firm at $151-153/t CFR for 63.5/63 Fe iron ore fines. We will wait till market gets a direction.” said an Indian iron ore exporter based in Mumbai.
Chinese importers and traders are more bearish on prices and anticipate it might fall further in coming weeks, as buyers are not comfortable holding stocks at these levels.
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