There is no pause in falling steel and spot iron ore prices in China.”Steel prices in China are at almost 3 years low over that improved supply from Australian and Brazilian miners have kept prices under pressure. We will not be surprised to see $105-106/t levels for 62% Fe in coming weeks.” said Mr Hudson, a Chinese importer based in Rizhao port China.
Indian miners heard to have cut productions sighting weaker spot prices.Also in domestic market there are limited buyers.At present domestic demand can not offset export supplies, said a senior marketing manager at one of the mines based in Odisha.
Leave a Reply