Friday, 15th April
Spot Iron Ore prices showed resistance at $190/mt and fell by $1-2 on liquidity crunch..*
It is possible the Chinese central bank will raise the bank reserve requirement again or interest rates,” said an iron ore trader in Shanghai.
Offers for high-grade ore in China slipped to below $190 a tonne and was quoted at $188/mt, including freight, on Friday, traders said.
Buying has not been aggressive from Chinese buyers from last three days said an Indian exporter. Though reactions are mixed in the market and low availability of high grade cargo makes Indian exporters bullish and expect prices might go up further he added.
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