Indian low grade iron ore fines offers inch down

SteelMint in conversation with market participants learned that bids for Indian low-grade fines from China have come down this week following the decline in global iron ore price. Low-grade fines (Fe 57/58) assessment of SteelMint moved down to around USD 53-55/MT CFR China, as against the last assessment at USD 55-57/MT, CFR China.
"I heard few offers around USD 55/MT, CFR China for Indian fines of Fe 57% grade, but didn't hear any deals getting concluded", shared a trade source. As per the market participants, Indian miners and exporters are getting lower bids from China at around USD 52-53/MT, CFR China levels and owing to the disparity in bids


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