India's iron ore prices slipped further this week as enquiries from key buyer China stayed thin, though at least one deal was done at a higher rate, exporters and the head of a trade body said on Thursday. "There is hardly any buyer. There are hardly any enquiries," said R.K. Sharma, secretary general of the Federation of Indian Mineral Industries (FIMI). India's biggest customer for iron ore is China, which consumes just under half its total production of about 200 million tonnes. The fall in China's iron ore buying has been attributed to a drop in demand for steel in China, which is facing an inventory build in steel due to sluggish demand from end users and to slumping exports.
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