Last week, the export prices of Indian iron ore contains 63.5% Fe to China were at US$182~US$183/ton CFR, up by US$2/ton from a week earlier.

At present, the main quotes of iron ore from Indian mining companies are at US$184~US$185/ton CFR; however, the quotes seem unfavorable to Chinese steel mills.

Though credit remains tight and the iron ore stocks in Chinese ports continue to rise, Chinese steel mills still keep purchasing.

Affected by these factors, it’s predicted that spot iron ore market would remain stable this week.