Singapore—Asian seaborne iron ore prices inched down Tuesday amid weak demand as buyers adopted a cautious approach on uncertainties in the steel industry and expectations of falling prices.S&P Global Platts assessed the 62% Fe Iron Ore Index at $88.45/dry mt CFR North China Tuesday, down 25 cents/dmt on the day. The front-month September TSI swap was stable on the day at $86.25/dmt. Market sources continued to see poor liquidity in the seaborne market, even for mainstream cargoes, with traders finding it difficult to offload cargoes on expectations of a further weakening in prices.
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