Indian low-grade Fe index range-bound, sentiment bearish
Oct 19, 2020 10:00
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SteelMint's weekly low-grade iron ore fines (Fe 58/57%) FOB India index remained stable w-o-w post-holidays in China. SteelMint's index stands at $78/t FOB east coast India. However, with the consecutive decline in iron ore futures and spot prices, market sentiments have turned bearish.
Market participants reported an export deal to have concluded for Fe 57% fines at $90-91/t CFR China (equivalent to $79-80/t FOB India) towards the beginning of this week. But it could not be confirmed till the time of publishing this window.
Few traders highlighted that with a successive decline in Chinese