Prices for import iron ore to China are falling this week mainly due to weaker demand from local steelmakers having sufficient stocks and to lower sales in the finished product segment.
The latest contracts for Indian 63.5% Fe material have been made at $178-180/t c&f ($151/t fob), by $2/t lower than a week ago. Market participants also say that Australian and Brazilian suppliers are still offering limited volumes of pig iron. Business activity on these routes is almost absent.
Most traders forecast pig iron prices will keep falling throughout May.
(source: metalexpert-group.com)