Iron Ore Price to Decrease by 10% in Jan-Mar

Iron ore procurement cost of major blast furnaces steel manufactures in January-March 2013 is likely to decrease by 10% from October-December. Average spot price of 3 months ending November is below the previous 3 months. But it remains upward condition in and after October, and it increases by 40% from the lowest level in the beginning of September now. It is expected that spot price will not rise substantially from now because of stagnation of demand like dull import in China, but the price quarterly price might change to increase again after April-June.