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Iron ore import price coming down in China
Source: Steelguru, November 21, 2007
Pushed by iron ore import price rise, spot ore prices at ports stay at high level, with price quotation of Indian 63.5% ore at CNY 1480 per tonnes to CNY 1500 per tonnes, that of Australian 63% ore at CNY 1500 per ton and that of Brazil 65% ore at CNY 1600 per tonnes.
Nowadays, some traders started to cut price quotation with Indian ore 63.5% priced at CNY 1450 per tonne to CNY 1470 per tonne and they are also sitting on their hands for oversea price offers. Current offshore price from Indian also declined USD 5 per tonne to USD 10 USD per tonne to USD 188 per tonne to USD 193 per tonnes