Seaborne iron ore prices turned to decline on Wednesday, with a sluggish steel market forcing raw material price cuts.
The Kallanish KORE 62% Fe index lost $1.30/t to $116.37/dry metric tonne cfr Qingdao. The Kallanish KORE 65% Fe index was $1.75/t lower to $131.04/dmt cfr, and the KORE 58% Fe index declined $0.90/t to $105.42/dmt cfr.
On the Dalian Commodity Exchange, September iron ore settled down CNY 5.5/t at CNY 728/t ($108.52/t), while o…
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