Spot iron ore slides again as demand recedes

摘要

Spot iron ore prices inched lower Friday as Chinese buyers continued to be cautious about committing to tons. Platts assessed the 62% Fe Iron Ore Index down 25 cents on day at $47.75/dry mt CFR North China. Buyers that were exhibiting interest mainly wanted floating price cargoes. “Buyers want to minimize their exposure to risk in an uncertain market,” a Shanghaibased trader said. This was borne out by several mill sources saying they would only consider floating price buys given the volatility in the marketplace.