Indonesia iron ore price stable at high levels

At present, the Indonesia iron ore market have not changed sharply, the market price is stable, and the suppliers said that they have not had done any deals with buyers.

An Indonesia iron ore trader reveals that they have much iron ore stocks at the warehouse, they get some inquiry from China, however, Chinese buyers think their price is too high and can not accept it. The iron ore suppliers said that the world price is rising from Feb. And they will not adjust down the price at present, and the iron ore price is at high levels. Now they offer iron ore 61% at 140-145USD/mt CIF China.

The suppliers told that although the buyers are not active to buy for the high price, they think the price will maintain high levels recently. But if China domestic production will increase sharply,  China do not mainly rely on imported iron ore, the price may be down at that time. For India restrict the iron ore export and the Australia flood affection, the spot price is at high levels now.