Spot iron ore prices crashed further by $2-3/t on extremely poor sentiments in the market.Every offer floated from Australian and Brazilian miners fetch lower value.
Australian PB fines (61.5 Fe) was heard to be sold at $105/t lower by $3 from last trade.With this pace we can see spot iron ore prices hitting all time low of 2008-2009 said market sources.
Indian exporter offered 63.5/63 at $112/t CFR but failed to get any bid for the same.Will falling steel prices in China, markets have gone on back foot.
Despite this NMDC, India's largest exporter of iron ore has raised its domestic fines prices by Rs 200/t ($3.5).
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