Seaborne iron ore prices retreat on weaker steel prices

摘要

Singapore—Seaborne iron ore prices fell on weakening steel margins following decline in construction activities. S&P Global Platts assessed the 62% Fe Iron Ore Index at $169/dry mt CFR North China on Jan. 13, down $2.35/dmt from Jan. 12. The front-month February 62% Fe derivatives were down $1.90 from Jan. 12 at $165.35/dmt on Jan. 13. Construction activities continue to weaken, weighing on long steel margins and posing downside risks to iron ore prices. Nevertheless, procurement preferences continue for medium grade and higher grade fines due to the concern of high coke prices.