Seaborne iron ore tumbles, sentiment remains shaky

摘要

Spot prices of seaborne iron ore continued to fall Tuesday as trades were done at lower levels and billet prices flagged, reflecting widespread bearishness. The 62% Fe IODEX was assessed 3 dollars/dry mt lower at 108.75 dollars/ dmt CFR North China. Fewer customers have been seeking spot ore this week compared to last week, a Guangzhou-based trader said. As buyers think the market will continue falling, they are withholding orders in hope of cheaper prices, he added.