Source of offer | Destination | Product | Iron content | Price ($/mt) | Daily price change | Sales term |
PB fines | 61.5% | 122-123 | -3 | CFR China | ||
Brazil fine ore | 65% | 132-133 | -3 | CFR China | ||
Indian fine ore | 63.5% | 124-125 | -3 | CFR China |
Chinese steelmakers have reduced their iron ore purchases due to the softening of the steel markets, more difficult credit conditions and high costs of stocks. After receiving low firm bids, iron ore suppliers have also revised their price downwards and deals have been concluded at low levels in iron ore platforms, allowing offer prices to decline further.