Iron ore spot falls to 33-month low: 62% at 97.50 dollars/dmt

摘要

Seaborne iron ore fell 4 dollars/ dry mt Monday, to a thirty-three month low-below 100 dollars--as buying all but disappeared and sellers were pressured to move cargoes. The 62% Fe IODEX assessment fell to 97.50 dollars/dmt CFR North China, the lowest mark since November 10, 2009 when it was also 97.50 dollars/dmt. Despite hopes that lower prices of iron ore would induce buying interest, sellers continued to report scant buying interest from Chinese mills, many feel there was further room for prices to soften, rendering new selling activity extremely muted.