Spot seaborne iron ore continues 'inexorable' decline

摘要

Spot prices of seaborne iron ore fell for the fifth straight day Wednesday as a lack of positive news in China's steel markets exacerbated the pervading caution. The 62% Fe Iron Ore Index was assessed 50 cents lower at 113.50 dollars/ dry mt CFR North China, touching a low not seen since December 2009. Buying interest remained weak and traders were cutting offers to tempt mills, with some describing offers as “negotiable.”