Spot iron ore price (Fe 62% fines) continued to fall by $1.8/t d-o-d to $164.75/t CFR China as demand slowed down following stricter production curbs in Tangshan. The local authority has downgraded four more steel mills to Grade D and instructed to cut emissions by 50%. Further, sources are expecting similar emission cut policies in other regions which may dampen iron ore demand.
Leave a Reply