Iron ore stable amid ongoing steel bearishness

摘要

Spot iron ore prices remained stable Monday as slack steel fundamentals continued to weigh heavy. Platts 62% Fe IODEX was stable at $60.50/dry mt CFR North China, unchanged on day. Potential mill production cuts continued to be a hot topic, with steelmakers looking to cut losses amid a flagging downstream market. “There is a lot of talk of blast furnace suspension or maintenance going on,” a Hong Kong-based trader said.