Seaborne iron ore prices retreated a little on Wednesday as the spike in commodity prices of the previous two days faded. Freight rates meanwhile have picked up again, giving meaning falling prices now are eating into miner margins.
The Kallanish index for 62% Fe Australian fines dipped $0.44/tonne to $52.40/dry metric ton cfr Qingdao. Futures prices in Singapore followed steel futures down slightly amid very little physical trading.
Freight rates have picked…
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