Iron ore retreats on lasting trading lull

摘要

Iron ore price retreated on Wednesday as the demand remained sluggish for the second post-holiday week, whileworries connected with possible supply cut in the near future faded.Australian iron ore fines 62% Fe declined by $1/t to $87.5/t CFR amid the lasting lull in the seaborne market. “Sufficientsupply and thin margins keep steel mills away from purchasing large volumes,” a market source told Metal Expert. Headded that trading at ports, where prices dropped by RMB 10?20/t ($1.5?3/t), was somewhat better but also modest.