Spot iron ore continues to drift on sliding demand

摘要

Spot iron ore prices slid for afourth straight day Wednesday, as bearishderivatives sentiment filtered into the physicalmarket. Platts 62% Fe IODEX fell 65 cents onday to $61/dry mt CFR North China.Iron ore futures traded on the DalianCommodity Exchange drifted down for thesecond consecutive day, with the most liquidSeptember contract last trading at Yuan 434.5/dmt, down Yuan 16/dmt from a day ago, andsettling at Yuan 441/dmt, off Yuan 18.50/dmt over the same period. Rebar futures inShanghai also tanked, with the most liquidOctober contract last trading at Yuan 2,500/mt,down Yuan 54/mt from Tuesday, and settlingat Yuan 2,519/mt