Chinese buyers of iron ore out of market expecting further price rollback

摘要

The Chinese iron ore market is still in deplorable condition. Only sporadic deals in case of an urgent need are madeso far. Suppliers are doing their best to stave off another decrease in prices.On June 2, 63.5% Fe fines (8-10% moisture) from India are offered at $176/t C&F northern ports of China, like onJune 1. At the same time, consumers are very careful in buying. Although quotations of finished products havetemporarily stabilized, further course of events in the segment seems quite pessimistic. Steelmakers continue topress for lower prices trying to get as large discounts as possible before resuming purchases.