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08 May

Iron ore turns down on inventory pressure

Seaborne iron ore prices continued to weaken on Wednesday, with iron ore inventory pressure set to limit price strength in the short term. The Kallanish KORE 62% Fe index and KORE 65% Fe index lost $2.57/t and $4.14/t respectively to $115.77/dry metric tonne cfr and $130.38/dmt cfr Qingdao. The KORE 58% Fe index was $2.45/t lower at $102.93/dmt cfr. Sources report that 90,000 tonnes of JMBF Fines were sold at a floating price with a laycan of 6-15 June. On the Da…
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