Ample end-user inventories weaken demand for iron ore

摘要

The seaborne iron ore market weakened on a decrease in buying activity, despite lower offers. S&P Global Platts assessed the 62% Fe Iron Ore Index at $74.75/dry mt CFR North China Thursday, down 45 cents/dmt from Wednesday. The front-month February TSI swap was stable from Wednesday at $73.25/dmt. Market sources pointed to the high number of offers in contrast with few bids as an indication of oversupply in the market before the Lunar New Year holidays.