Oversupply continued topressure spot prices Monday, with buyersin no rush to purchase given the amount ofmaterial on offer. Platts assessed the 62%Fe IODEX 75 cents lower at $61.25/dry mtCFR North China.Surging supply was seen as the primarydownward driver, with some sources citingthe lack of weather related disruptions inkey supply basins Australia and Brazil.“There’s always tons [of material],” a sourcefrom an international trading house said.
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