Weaker steel margins weigh on iron ore prices

摘要

Singapore—Thinning steel margins dampened speculative interest and increased selling pressure on prompt loading cargoes of iron ore Jan. 26. S&P Global Platts assessed the 62% Fe Iron Ore Index at $164.65/ dry mt CFR North China on Jan. 26, down $3.85/dmt from Jan. 25. Front-month February 62% Fe derivatives were down $3.50/dmt on the day at $162.45/dmt on Jan. 26. Market sources pointed to a shift in end-user sentiment towards production levels on falling steel margins, with lowering production costs expected to be prioritized over maintaining output efficiency.