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10 Jun

Iron ore falls despite steady stock drawdown

Seaborne iron ore prices fell further on Friday, wiping out gains earlier last week. Shanghai’s seesawing lockdown situation has driven sentiment and prices, but the overall economic picture still looks very difficult. The Kallanish KORE 62% Fe index fell $2.61/tonne on Friday and was flat on-week at $141.85/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index dropped $3.47/t on Friday and $2.27/t on-week to $163.03/dmt cfr. The KORE 58% Fe index in…
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