Iron Ore Price to Decrease by Over 10% for an October-December Shipment

Iron ore price for an October-December shipment that major blast furnaces steel manufactures procure is likely to decrease by 10% from July-September. Average price in June-August is estimated to underrun FOB 120 dollars if indicative spot price keeps current low level until the end of this month. In iron ore market, there is no sign of recovery because Chinese ferrous makers skip out on money-losing expensive iron ore while Chinese steel material continues to decrease though production level is still high in China.