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30 May

Iron ore market moves down

Seaborne iron ore prices fell on Tuesday as futures weakened, with a turn in the steel market taking a toll on raw materials markets. The Kallanish KORE 62% and 65% Fe indices declined by $2.5/tonne and $2.95/t respectively on Tuesday to $101.2/dry metric tonne cfr Qingdao and $113.97/dmt cfr. Meanwhile, the KORE 58% Fe index slumped by $13.6/t to $88.07/dmt cfr. 80,000 tonnes of Mac fines were sold at $96.6/t with a laycan of 26 June…
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