Iron ore slightly down after surge

摘要

Iron ore retreated on Tuesday after a robust increase during the previous two working days. Seaborne trading volumes dropped somewhat, while buying activity at ports improved.Australian iron ore fnes 62% Fe dipped by $1/t to $89.5/t CFR despite an RMB 7.5/t ($1.1/t) rise in January contracts on the DCE. “Mills keep on restocking, the demand is good, so the decrease should be just a correction,” a market source told Metal Expert. Still, the volumes sold on trading platforms during the day were lower than on Monday, totaling 440,000 t.