Spot iron ore market on Monday
opened with a further price dip as lean demand for steel limited the appetite
for Iron ore and sellers cut their prices further.
Offer prices fell by $1-2/MT,
with Indian fines quoted at $ 144/MT (CNF CHINA) & Australian Neman fines quoted at $139-$141/MT.
“The price will continue to
slide this week. Sentiment hasn't really changed much, steel demand in China is
still very limited,” said an iron ore trader in Shanghai.
However, market participants believe that prices are
unlikely to go into a free fall again as supplies remain tight.
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