Export prices of Indian
iron ore for
China have now declined for four consecutive weeks, with Indian fine
iron ore of 63.5 percent iron content currently being offered to
China at around $145-146/mt CFR on actual weight basis for payments via letter of credit and for October shipment. It is expected that the prices may decline further to below the level of $140/mt CFR in the coming week. At present,
China is implementing a policy to save energy and cut emissions, and so domestic steel mills will continue to indicate reduced output levels, with demand for
iron ore in the coming period consequently being difficult to guarantee.