Iron ore retreats on plummeting futures, but expectations remain positive

摘要

Iron ore prices retreated Wednesday following a severe plunge in the futures market.Australian iron ore fines 62% Fe lost $1/t over a day, coming to $77.5/t CFR. “Something crazy is going on in the futuresmarket today and physical iron ore just follows the trend,” a trader source told Metal Expert, adding, however, that therewere no signs that the bearishness will persist.