India: Iron ore concs prices stay under pressure on limited trade activities

Iron ore concentrate prices in India have remained under pressure for another week. Limited trade activities, falling pellet and iron ore prices have weighed on bids. Additionally, pending deliveries of old orders had also limited fresh bookings for some sellers.

BigMint's weekly iron ore concentrate index stood at INR 4,200/t ($50/t) exw, showing a fall of INR 50/t ($1/t) as against the last assessment on 13 July.Iron ore concentrate offers have inched down w-o-w to INR 4,200-4,300/t exw levels. However, buyers' bids were heard at lower levels of INR