iron ore prices drop on weak outlook for steel

摘要

Singapore—The seaborne iron ore market weakened Thursday on a bearish outlook for steel. S&P Global Platts assessed the 62% Fe Iron Ore Index at $98.35/dry mt CFR North China Thursday, down $1.55/dmt from Tuesday. The front-month July TSI swap was down 85 cents/dmt over the same period at $95.35/dmt Thursday. "Flat steel prices are lower, and demand is falling as summer is coming," a Singapore- based trader said.