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16 Jun

Iron ore slumps as China targets centralised purchasing

Seaborne iron ore prices fell further on Thursday. China’s plans to set up a new iron ore buyer have rattled the market, but have yet to come to fruition. The Kallanish KORE 62% Fe index slumped $6.32/tonne to $129.46/dry metric tonne cfr Qingdao, the lowest level since 11 January. The Kallanish KORE 65% Fe index dropped $6.62/t to $150.27/dmt cfr, and the KORE 58% Fe index fell $6.52/t to $126.34/dmt cfr. 80,000t of Carajas Fines shipped on 31 May sold at $…
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