Iron ore approaches $60/dry mt CFR North China

摘要

The seaborne iron oremarket fell Friday, reversing a short-livedone-day rise, as bearish expectations forsteel fundamentals dented buying interest.The 62% Fe IODEX was assessed$1.25/dry mt lower at $62/dry mt CFRNorth China.Demand remained thin as mills —some of which were cutting productionand thus raw materials appetite — foresawfurther price falls. “The iron ore marketcan only go softer when many mill arealready cutting back on their steel production,”said a steelmaker in northeastChina that laid idle a furnace amid poorsteel prices.