Mills offer contractual ore tons in spot market

摘要

Bearishness pervaded the spot iron ore market Tuesday, with mills offering contractual tons ahead of potential production cuts. Platts 62% Fe IODEX was assessed $1.50/dry mt lower at $49.75/ dmt CFR North China. “There are lots of mills offering their term cargoes on a mainly index-linked basis [in the spot market],” Tuesday, according to a Hong Kong-based trader, who said he had “no doubt” the market would break $50/dmt CFR.