Seaborne iron ore prices retreated below $100 per tonne cfr China onMonday June 3 amid declines in the futures and steel markets. China’s ferrous futures dipped further across the board in the firsttrading day of June, with the benchmark rebar and iron orecontracts ending 1.6% and 3.5% lower respectively than Friday’ssettlement levels.The country’s spot rebar and hot-rolled coil prices also fell by asmuch as 50 yuan ($7.24) per tonne from last Friday, and havecontinued to weigh on market sentiment, denting iron ore buyinginterest at Chinese ports as well in the seaborne market.
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