Spot iron ore prices in Chinese market continue to move down on negative buying sentiments and falling steel futures in Chinese domestic market. Another reason why sea borne iron ore prices are under pressure is rising inventory level at various ports in China.
Local traders mention that Australian PB fines of grade 61% was offered at around $120/t CFR, much lower than the previous levels.
On the other Indian exporters mentioned that Indian 63.5/63 Fe iron fines are in the range of $121-122/t CFR China, although no offers have been heard from Indian counterpart.
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