The 62% Fe Iron Ore Index softened 25 cents Friday, to $123.75/dry mt, as demand remained thin amid a weak steel market. Activity was scarce as sellers withheld offers and buyers inquiries slowed in expectation of the market weakening, sources said. "The market is quite visibly depressed now after the 18th Congress failed to bring any new government initiatives that would boost manufacturing and development," a Beijing-based trader said.
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