Spot iron ore unchanged on thin trade as steel dips

摘要

Prices of spot seaborne iron ore bound for China were unchanged Monday on thin trading activity, although a cut in steel prices by a large Chinese mill weighed on already-weak sentiment. The 62% Fe IODEX was assessed at 135.25 dollars/ dry mt CFR North China. Shagang, one of China's biggest steelmakers, cut its rebar price to Yuan 4,020/ mt (633 dollars) ex-works Monday, down Yuan 30/mt from the previous 10-day period.