Present, China's iron ore spot prices has been basically flat with the long-term agreement price. Industry analysis, the future may soon spot ore prices will drop below the price of a long association.

    Since last week's rebound in the domestic steel market experienced another U-turn retaliatory down, drag on imported iron ore market, bogged down in the quagmire, most steel prices are still bearish on the market outlook, resulting in a smaller volume, spot prices continued to slow down.

    According to statistics, 63.5% in India last weekend spot fine ore CIF 135 USD / ton, in the past month, decreased to 40 U.S. dollars / ton, with the taste of Indian iron ore spot prices of a long association with the Australian price was essentially flat.

    Analysts said the iron ore spot prices close to a long association price level and the sharp decline of sea freight has made domestic steel mills in the new year's iron ore negotiations are in the driving position.