Spot 63.5/63 iron ore fines narrow down to $122-124/t CFR

There was some resistance seen in in falling Chinese steel prices last week.Though rally had short lived and prices have started correcting again.Spot iron prices narrows down in line with falling steel prices. 

Sources report on few trades this Friday,Brazilian 97,000 tonnes lumps 64.08% Fe, SiO2 3.23%, Al2O3 1.34% has concluded at $122.10 CFR, another Brazilian cargo of 179,000 tonnes 60.08% Fe fines sold at $ 94.82 CFR.

Indian 63.5/63 should have been at $122-124/t CFR but no offers have been heard from Indian exporters.