Thinning down of buying interest has lead to a further dip
in Iron ore prices by $1-2/MT. Activities
in the physical iron ore market have slowed down ahead of the Labour Day holiday
in China next week.
Indian fines Fe 63.5/63 was quoted at $147-148/MT, i.e. down
by $1/MT from the previous price. Brazil's Vale also sold 63.74-percent grade
sinter feed at $146.52/MT on Thursday, slightly lower than a prior sale.
Australia's BHP Billiton is selling 80,000 tonnes of Newman
iron ore fines and 90,000 tonnes of MAC fines via a tender that closes on
Friday, traders said, and expectations are prices for those cargoes to fall
from previous deals.
“The market remains bearish so there's hardly any
buying going around. There's an upcoming holiday so no one wants to make any purchases
at the moment, said an iron ore trader.
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