IODEX touches fresh low as bearishness pervades

摘要

Spot iron ore prices remainedbelow the $40/dry mt mark for the thirdstraight day Tuesday, as bearish steelfundamentals bit into purchasing appetite.Platts 62% Fe IODEX dropped 20 cents to a newlow of $39.30/dmt CFR North China.The lackluster Chinese economy continuedto hit steel demand, with many mills cuttingcosts to try and improve margins.