SteelMint's weekly export index for low-grade Indian iron ore fines (Fe 57%) fell by $3/t to $35/t FOB east coast India. Indian iron ore export sentiments fell as iron ore and steel demand in China edged lower. Many regions in China have already witnessed steel prices fall from the peak and prices could find it hard to bounce back for the rest of the year.
The demand for low-grade ore from China is expected to remain weak due to cuts in steel output and energy consumption, further pressuring iron ore prices.
The bearish outlook on the property market has triggered panic across related markets. The market expects stricter governance measures to be taken against the property