Indian iron ore export price to China fell slightly, the spot price of Indian power ore dropped from U.S.$133-137 per ton (CFR) in last week to U.S.$133-135 per ton (CFR). However, the transactions were light and offers of Indian miners were also few.
From January 7, affected by the significant slump of the futures, China's steel spot price reversed to decrease. Therefore, the high price of iron ore was also resisted by buyers, especially the high-quality Indian power ore. Presently buyers are more willing to replenish inventory from ports, after all, the price is lower than future price.
Source: Alibaba/MetalBiz
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