Spot iron ore prices noticed marginal slowdown as steel prices in China show signs of sluggishness. Trading volumes were low, though Australian fines traded at similar levels, Indian fines were asked at a lower price.
Demand for Brazilian fines is good on short supply. Over all market sentiments look weak and prices might see some downtrend in coming trading sessions, reported local traders in China.
Steel square billet prices in Tangshan (China) saw a slight correction of 10 CNY, which is offered at 3590 CNY, he further added.
Indian exporters on other hand had actively started purchasing fines from local market as weak Rupee against dollar gives better realization. Also monsoons round the corner, exporters feel to stock before will give an edge.
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