Rapid drop in Australian and Indian iron ore prices

SteelOrbis has learned from market sources that Australian PB fines with 61.5 percent iron content have decreased by about $4/mt in the past two days to $131-132/mt CFR in China, while the price for Australian Yandi fines with 58 percent iron content have declined by $3/mt to $119-120/mt CFR.
 
In the meantime, SteelOrbis has further learned that the price of Indian fines with 63-63.5 percent iron content has dropped by $3/mt in the last two days to $134-136/mt CFR, while the price of Indian fines with 61-62 percent iron content has decreased by the same amount to $124-126/mt CFR.