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28 May

Iron ore dips on steel supply pressure

Seaborne iron ore prices maintained their downward trend on Tuesday. The market lost confidence due to increasing steel oversupply pressures. The Kallanish KORE 62% Fe index and KORE 65% Fe index declined by $1.03/t and $1.07/t respectively to $118.11/dry metric tonne cfr Qingdao and $132.6/dmt cfr. The KORE 58% Fe index, meanwhile, was $1.02/t lower at $105.08/dmt cfr. Two deals for 170,000t of PB Fines were done at $117.9/t and $118.5/t with laycans of 25 June …
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