Drab demand continues to drag down iron ore

摘要

Spot iron ore prices slipped again Tuesday as expectations of further output cuts continued to constrain demand. Platts assessed the 62% Fe IODEX 75 cents lower at $57.25/dry mt CFR North China. The double whammy of a flagging steel market and strong ore supply seemed to be the continuing downward drivers. “There are some mills choosing to keep their blast furnaces offline even after the completion of earlier maintenance work,” a Shanghai-based trader said.