Iron ore muted on steel controls

摘要

Singapore—The seaborne iron ore market was rangebound amid subdued demand, and following a new round of sintering control policy rolled out Monday. S&P Global Platts assessed the 62% Fe Iron Ore Index at $91.10/dry mt CFR North China Monday, up $0.20/dmt from Friday. The front-month January TSI swap was up $0.20/dmt from Friday at $90.30/dmt Monday. Due to heavy smog in Northern China, steel mills located in Hebei and Shanxi provinces were heard undergoing a new round of sintering controls effective Monday. "Transactions at ports were slightly quiet today, and end-users were not sure when the latest production control will be removed," a Chinese trader said.