Seaborne iron ore market softens again as paper market weakens

摘要

The seaborne iron ore market softened again on Tuesday May 23 intandem with falling futures. China’s rebar and hot rolled coil futures fell during the day afterconsecutive days of gains. The iron ore contract on the DalianCommodity Exchange also weakened. Trading activity at Chinese ports was described as thin, as millswithdrew from the market to see how prices develop.Buyers were also selective with brands, with some fetching higherprices than others.