Source of offer |
Destination |
Product |
Iron content |
Price ($/mt) |
Daily price change ($/mt) |
Sales term |
PB fines |
62% |
45.5-46 |
-1.5 |
CFR China |
||
Indian fine ore |
63.5% |
45-46 |
-2.5 |
CFR China |
||
Brazil fine ore |
65% |
48-50 |
-1 |
CFR China |
Iron ore prices have continued their downtrend amid oversupply and due to weak demand conditions in China. According to iron ore price forecasts announced by research companies and banks, iron ore prices are predicted to decline to $45-55/mt CFR China in 2016. However, under current circumstances, market players believe that iron ore prices may decline below $45/mt before the end of the current year.