Iron ore prices in Chinese spot market shed another two dollars on cautious outlook. Buying activities looked thin and traders anticipate prices might correct another 3-4 USD this week.
Indian 63.5/63 Fe fines reached at around $115/t CFR, although Indian miners are not holding stocks on ports amid Shah commission probe to check illegal mining in the state of Odisha. Most of the major mines are under investigation.
Indian exporter heard to be offering 56/55 Fe fines at around $96/t CFR although bids are as low as $90/t from Chinese counterpart reported local sources.
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