Domestic iron ore prices have shrunk in recent days amid quiet transactions. Most mills and traders said they are not surprised by the recent fall in iron ore prices because they are already too high to be sustainable. The price of Indian 63.5 percent Fe content fines was 1,330 yuan per ton delivered at Tianjin and 1,320 yuan per ton at Qingdao, and that of 62 percent grade was 1,220 yuan per ton at Rizhao, 30 yuan lower than a week earlier. Bearish on the near future market of iron ore, steel mills have suspended the purchases of this material. Many traders are also cautious about the spot market, saying they won’t return to the market until the iron ore prices come down to earth.