Singapore—Seaborne iron ore prices were bogged down Tuesday by a lack of liquidity in the secondary market for November loading cargoes. S&P Global Platts assessed the 62% Fe Iron Ore Index at $85.50/dry mt CFR North China Tuesday, down $2.15/dmt from the previous day. The front-month November TSI swap was down $1.60/dmt on the day at $83.85/ dmt Tuesday. Market sources pointed to a continued lack of buying interest for November-loading cargoes with limited end-user buying demand and ample supply of spot cargoes.
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