Asian iron ore prices extend losses; buyers poised to return

摘要

Singapore—Seaborne iron ore prices fell further Sept. 23 on lingering bearish sentiment. S&P Global Platts assessed the 62% Fe Iron Ore Index at $114.4/dry mt CFR North China on Sept. 23, down $2.60/dmt from Sept. 22. Front-month October 62% Fe derivatives were down $2.25/dmt from Sept. 22 at $111.85/dmt on Sept. 23. The fall in the IODEX appeared to have slowed. Sources said Chinese steel demand had been frontloaded in the summer and the current weakness in demand was simply a return to the norm. A few mills expressed interest in procuring seaborne cargoes from the spot market, following the fall in prices.