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China’s import price of iron ore dropping

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Publish time: 24th January, 2014      Source: ChinaCCM
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China's import price of iron ore continued their descent amid slow demand.

Spot prices for 63.5% Fe Indian fines are being offered at US$124.5~125.5/ton when prices for 32% Fe Australian fines are being offered at US$122.5~123.5/ton.

Traders were selling material cheaply before Chinese New Year holiday because of high inventories at ports and tightening cash flows.

Stocks of iron ore at 41 ports in China rose by 4.65 million tons to reach 96.09 million tons.