Iron ore floats lower on demand weakness

摘要

Spot iron ore buyers shunned a wave of offers Monday as suppliers tried to ship tons in a stormy market. Platts assessed the 62% Fe IODEX $1/dry mt lower from Friday at $52/dmt CFR North China. “It’s offer-heavy and [there is] very bad demand,” a Hong Kong-based trader said, alluding to the buyers market. Bids were scarce and those that were presented sat well below prevailing offer levels.