Spot iron ore inches lower as mill cuts yield dilemma

摘要

Spot prices of seaborne iron ore slipped Monday as production cuts by Chinese steelmakers gave rise to conflicting opinions about their impact on the raw materials markets. The 62% Fe Iron Ore Index was assessed 50 cents lower at 117.50 dollars/dry mt CFR North China. Some market participants were cautioning about softer iron ore requirements because mills have reduced output, or are planning to curtail production amid an extended period of weak demand and squeezed margins.