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Indian iron ore price sink by another 14%

It’s reported that Indian iron ore price continued its downturn this week and dropped again by 14 percent to US$50/ton, compared with last week’s level of US$57-60/ton due to withered demand from China.

India exports 100 million tons of iron ore to China, nearly half of its total yielding volume.

Currently, China is suffering from sharp decline in steel export. Customs statistics reveal that China’s steel export of January and February nosedive by 52 percent year-on-year. Source:Yieh.com

Mar 16, 2009 12:40
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