With weak sentiments and falling steel prices in China, spot iron ore prices broke its resistance and slipped down by $1-2/t.
“There are few cargoes from Brazil,India and Australia traded in the market. Australian PB fines fetched around $149/t , almost same as previous levels.
Brazilian cargo was sold few cents lower where as Indian cargo too fetched lower prices.” said an importer based in Beijing.
” Queries have gone down in last few days.An Indian exporter is quoting $152/t CFR for 63.5/63 Fe cargo, but it looks difficult at the moment. It should settle down around $150-151/t.” said an Industry expert.
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