World iron ore prices may fall below $ 100

Iron ore prices continue to slide lower this week as the Chinese steel market remains sluggish and iron ore miners' inventories have increased worldwide.

Steel Index Ltd of 62 percent ore delivered to the Chinese port of Tianjin fell 1 percent over the past week to $ 102.70 per tonne, reaching its lowest level since September 2012. Australian PB Fines 61.5 percent from Dampier /Hedland ports with 8 percent moisture fell to $ 102 - $ 104 per ton CFR China.

Brazilian iron ore SFOT from Tubarow /PDM ports also dropped to $ 102 - $ 104 per ton CFR China. The CIOPI China Iron Ore Price Index compiled by the Iron and Steel Industry Association (CISA) and presented by the China Metals Chamber of Commerce and the China Mines Association is down 18 percent from January 9, 2014.