Spot iron ore still tanking on illiquid Chinese buying

摘要

Spot prices of seaborne iron ore dropped for the twelfth straight day Wednesday as falling Chinese buying interest forced sellers to transact at lower prices, market sources said. Platts assessed the 62% Fe Iron Ore Index down 1.75 dollars to 119.75 dollars/dry mt CFR North China, the lowest since October 31, 2011. After a dearth of trades over the past week for mainstream Australian material, tenders by Rio Tinto and BHP Billiton were testimony to lower Chinese buying interest.