Spot iron ore slips again on ongoing steel price falls

摘要

The Asian spot iron ore market fell for the eighth straight day Friday, sagging on sustained weakness in Chinese steel prices as prompt spot cargoes from Brazil made a comeback in the market. The 62% Fe IODEX was assessed 1 dollars lower at 134.25 dollars/dry mt CFR North China. Traders, who have been actively procuring in the past two months, have mostly withdrawn from the market due to steelmakers' bearishness about poor margins.