Iron ore prices in China on record low level for sixth consecutive day

摘要

Import iron ore quotes in China are keeping at the lowest level since July of last year for the sixth day in a row, and most of consumers still hope for further price decline. Suppliers, on the other hand, are unwilling to cut prices further, being aware that extra discounts will not stimulate demand, but let buyers insist on further cuts. Iron ore with 62% Fe content is being quoted at $117-119/t CFR, however, offers at the top of this range are virtually absent.