Source of offer | Destination | Product | Iron content | Price ($/mt) | Daily price change ($/mt) | Sales term |
PB fines | 61.5% | 104-105 | -8 | CFR China | ||
Brazil fine ore | 65% | 109-110 | -7 | CFR China | ||
Indian fine ore | 63.5% | 105-106 | -8 | CFR China |
The ongoing decline of steel prices in China and the pessimistic outlook for the steel and iron ore markets have resulted in sharp drops in iron ore prices. Buyers have retreated from the market and no significant volumes have been transacted amid sentiments of panic. With raw material futures prices and commodity prices being driven down, iron ore prices have indicated one of their biggest single-day decreases of recent years.