Trading thin in seaborne iron ore market amid softening steel prices

Offers for seaborne iron ore outnumbered bids on Thursday December 28 amid tepid trading activity and weaker Chinese steel prices.

Key drivers China’s ferrous futures largely ended negatively for the day, though the benchmark iron ore contract edged up. Spot rebar and hot rolled coil prices fell 20-70 yuan ($3.10-10.70) in the country. Two cargoes of Pilbara Blend fines changed hands via a trading platform during the day, while three joint shipments of Pilbara Blend fines and lumps offered on the same platform failed to generate any bids. There are plenty of such joint cargoes in the market of late, according to...


July Zhang

December 28, 2017

10:45 GMT