Platts 62% Fe IODEX fell $1.25/dry mt CFR North China Thursday to an all-time low of $54/dmt CFR, as anticipation of further steel output cuts saw demand recede. The previous low of $55/dmt CFR was reached March 20, 2015, and almost six-anda-half years ago on November 4, 2008. Environmental regulations have been tightening in China, leading some mills to cut production to adhere to pollution standards. This was borne out by official data — the average daily crude steel output of key Chinese mills over March 11-20 was 1.6492 million mt, down 1.92% from early March, according to the China Iron and Steel Association.
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