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Reported by Indian iron ore exporters, iron ore price saw a slight peaking-up during the past several days. Buyers are active in purchasing when the price is in an upward trend, so the demand for iron ore from overseas buyers also experienced a short prosperous scene. Insiders predict a milder market in the short run.
An iron ore trader tells Mining-bulletin.com that the current price of 60%min iron ore is USD104/dt FOB India, up by USD1.5/dt compared with that of last week.
The source says he received more enquires during recent several days than that in Q3, but there are few people who really want to purchase. Market participants tend to hold cautious attitudes toward the unstable market performance at the moment. “I would rather slow down my step and watch patiently. In my point of view, it still needs a period for the market to rebound truly. Maybe in Q1 in 2013,” he added.
Another source reveals to Mining-bulletin.com that the current price of 61%min iron ore is USD106/dt CFR China, stable compared with that of previous trading day.
He understands that the international iron ore index climbed to a higher point during the past several days, but he will keep the quotation firm to attract more clients. Setting up a harmonious and long-term relationship with potential customers is quite important. With the approach of the end of this year, he will keep a calm mind instead of concluding deals blindly.