Spot iron ore follows precipitous ascent of steel prices

摘要

A sustained steep climb in steelprices pushed spot iron ore further over the$60/dry mt mark Tuesday. Platts assessed the62% Fe IODEX $2.05/dry mt higher on day at$62.60/dmt CFR North China.The steel market was flying, comparativelyspeaking, and raw material prices remainedrelatively low. "Every kind of steel product is easyto sell now. Mills are busy seeking medium- andhigh-grade fines for production needs," said aneastern China procurement source.