Iron ore prices weaken on market uncertainty

摘要

The Asian seaborne iron ore market was trending lower Monday on weaker steel prices and the uncertain outlook for steel demand. S&P Global Platts assessed the 62% Fe Iron Ore Index at $93.10/dry mt CFR North China Monday, down $1.55/dmt from last Friday. The front-month June TSI swap was down 95 cents/dmt from last Friday to $91.05/dmt. The news that the US is threatening to raise tariffs on all Chinese imports to 25% has been spreading in the market. Commodity products have been under pressure amid this news. Some market participants have expressed concern on steel prices, especially after seeing the high steel production in the first quarter.