Weak buying drives down spot prices of seaborne iron ore

摘要

The seaborne iron ore marketfailed to hold its ground, as waning buyinginterest on the back of steel output cuts led tooverall weaker procurement.Platts assessed the 62% Fe Iron Ore Index(IODEX) at $62.50/dry mt CFR North China,Thursday, down 55 cents from Wednesday. Thefront-month December IODEX swap was down35 cents to $61.85/dmt CFR North China.